Truist Financial Corp Decreases Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Truist Financial Corp lessened its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,592 shares of the technology company's stock after selling 4,208 shares during the period. Truist Financial Corp owned 0.06% of Jack Henry & Associates worth $7,403,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in Jack Henry & Associates in the 2nd quarter valued at $25,000. Tortoise Investment Management LLC raised its position in Jack Henry & Associates by 76.3% in the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company's stock worth $27,000 after purchasing an additional 71 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in Jack Henry & Associates during the first quarter worth about $30,000. Blue Trust Inc. boosted its holdings in Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company's stock valued at $39,000 after purchasing an additional 134 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Jack Henry & Associates in the 1st quarter worth approximately $51,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Oppenheimer began coverage on Jack Henry & Associates in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $206.00 price target on the stock. Compass Point initiated coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $186.00 target price on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $181.00 target price on shares of Jack Henry & Associates in a report on Friday, September 6th. Evercore ISI upped their price target on Jack Henry & Associates from $172.00 to $175.00 and gave the company an "in-line" rating in a research note on Tuesday, June 25th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the company a "market perform" rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $180.00.

Jack Henry & Associates Stock Performance

Shares of JKHY traded down $1.68 during trading hours on Monday, hitting $180.46. The company had a trading volume of 144,880 shares, compared to its average volume of 440,055. The firm has a market cap of $13.16 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 3.09 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a 12 month low of $136.57 and a 12 month high of $184.82. The business has a fifty day moving average of $171.45 and a 200-day moving average of $168.13.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.08. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The firm had revenue of $559.91 million for the quarter, compared to analyst estimates of $563.37 million. During the same quarter last year, the company earned $1.34 EPS. Equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, September 6th. This represents a $2.20 annualized dividend and a yield of 1.22%. Jack Henry & Associates's dividend payout ratio is currently 42.47%.

Jack Henry & Associates 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.