Nordea Investment Management AB Reduces Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Nordea Investment Management AB trimmed its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 11.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 452,563 shares of the technology company's stock after selling 57,342 shares during the quarter. Nordea Investment Management AB owned 0.62% of Jack Henry & Associates worth $78,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of JKHY. Vanguard Group Inc. grew its holdings in Jack Henry & Associates by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 8,648,977 shares of the technology company's stock valued at $1,413,329,000 after purchasing an additional 29,182 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Jack Henry & Associates by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,942,887 shares of the technology company's stock valued at $317,487,000 after purchasing an additional 24,910 shares during the period. Handelsbanken Fonder AB grew its holdings in Jack Henry & Associates by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 764,600 shares of the technology company's stock valued at $124,943,000 after purchasing an additional 75,200 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Jack Henry & Associates by 32.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 705,582 shares of the technology company's stock worth $115,299,000 after acquiring an additional 171,477 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Jack Henry & Associates by 3.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 595,311 shares of the technology company's stock worth $97,292,000 after acquiring an additional 19,889 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com lowered Jack Henry & Associates from a "buy" rating to a "hold" rating in a report on Saturday, June 22nd. Evercore ISI raised their price target on Jack Henry & Associates from $172.00 to $175.00 and gave the stock an "in-line" rating in a report on Tuesday, June 25th. DA Davidson reaffirmed a "buy" rating and issued a $198.00 price target on shares of Jack Henry & Associates in a report on Tuesday, April 30th. William Blair reaffirmed an "outperform" rating on shares of Jack Henry & Associates in a report on Wednesday, May 8th. Finally, Robert W. Baird raised their price target on Jack Henry & Associates from $180.00 to $186.00 and gave the stock a "neutral" rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Jack Henry & Associates presently has an average rating of "Hold" and an average price target of $174.67.

Jack Henry & Associates Price Performance

NASDAQ JKHY traded down $1.46 during trading hours on Tuesday, reaching $162.88. 388,152 shares of the stock traded hands, compared to its average volume of 441,837. The stock has a 50 day simple moving average of $165.02 and a two-hundred day simple moving average of $167.72. Jack Henry & Associates, Inc. has a 1 year low of $136.57 and a 1 year high of $178.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 3.84 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.02. The business had revenue of $538.56 million for the quarter, compared to the consensus estimate of $541.80 million. Jack Henry & Associates had a return on equity of 22.18% and a net margin of 17.28%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $1.12 earnings per share. On average, analysts predict that Jack Henry & Associates, Inc. will post 5.19 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, May 28th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.20 annualized dividend and a dividend yield of 1.35%. Jack Henry & Associates's dividend payout ratio is currently 42.47%.

About Jack Henry & Associates

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.