Marks Group Wealth Management Inc Cuts Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Marks Group Wealth Management Inc cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 58.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,737 shares of the technology company's stock after selling 12,441 shares during the quarter. Marks Group Wealth Management Inc's holdings in Jack Henry & Associates were worth $1,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JKHY. Principal Financial Group Inc. increased its position in Jack Henry & Associates by 188.4% during the 2nd quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company's stock worth $46,819,000 after purchasing an additional 184,210 shares during the period. Mackenzie Financial Corp grew its holdings in Jack Henry & Associates by 51.4% during the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company's stock worth $83,665,000 after acquiring an additional 171,041 shares during the period. TD Asset Management Inc raised its position in Jack Henry & Associates by 25.6% in the first quarter. TD Asset Management Inc now owns 684,363 shares of the technology company's stock worth $118,894,000 after acquiring an additional 139,582 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Jack Henry & Associates by 6,680.1% in the second quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company's stock worth $19,158,000 after acquiring an additional 113,696 shares in the last quarter. Finally, Tandem Investment Advisors Inc. lifted its holdings in Jack Henry & Associates by 20.4% in the second quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company's stock valued at $83,496,000 after acquiring an additional 85,175 shares during the period. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on JKHY shares. Keefe, Bruyette & Woods upped their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a "market perform" rating in a research note on Thursday. Stephens restated an "equal weight" rating and set a $170.00 target price on shares of Jack Henry & Associates in a research report on Wednesday. Compass Point assumed coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They issued a "neutral" rating and a $186.00 target price for the company. StockNews.com lowered Jack Henry & Associates from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Royal Bank of Canada raised their price objective on Jack Henry & Associates from $181.00 to $203.00 and gave the company a "sector perform" rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Jack Henry & Associates currently has an average rating of "Hold" and an average price target of $188.73.

Jack Henry & Associates Trading Down 0.2 %

Shares of Jack Henry & Associates stock traded down $0.43 during mid-day trading on Thursday, hitting $179.97. 720,728 shares of the stock were exchanged, compared to its average volume of 445,537. The company has a 50-day simple moving average of $179.13 and a 200 day simple moving average of $170.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 3.38 and a beta of 0.63. Jack Henry & Associates, Inc. has a twelve month low of $146.46 and a twelve month high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.02. The firm had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. Jack Henry & Associates's revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 earnings per share. Research analysts forecast that Jack Henry & Associates, Inc. will post 5.82 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates's dividend payout ratio is currently 42.15%.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.