State of Alaska Department of Revenue Sells 6,450 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

State of Alaska Department of Revenue cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 19.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,205 shares of the technology company's stock after selling 6,450 shares during the quarter. State of Alaska Department of Revenue's holdings in Jack Henry & Associates were worth $4,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in shares of Jack Henry & Associates by 188.4% in the 2nd quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company's stock valued at $46,819,000 after purchasing an additional 184,210 shares during the period. Mackenzie Financial Corp increased its stake in shares of Jack Henry & Associates by 51.4% in the 2nd 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 in the last quarter. TD Asset Management Inc increased its stake in shares of Jack Henry & Associates by 25.6% in the 1st 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. boosted its position in shares of Jack Henry & Associates by 6,680.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company's stock worth $19,158,000 after purchasing an additional 113,696 shares in the last quarter. Finally, Tandem Investment Advisors Inc. grew its stake in shares of 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 worth $83,496,000 after acquiring an additional 85,175 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JKHY has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the stock a "market perform" rating in a research note on Thursday, August 22nd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $181.00 price objective on shares of Jack Henry & Associates in a research report on Friday, September 6th. Oppenheimer started coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They issued an "outperform" rating and a $206.00 price objective for the company. StockNews.com raised shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Finally, Compass Point assumed coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They set a "neutral" rating and a $186.00 target price for the company. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $187.11.

Jack Henry & Associates Stock Up 0.1 %

NASDAQ JKHY traded up $0.12 on Wednesday, reaching $182.78. 438,983 shares of the stock traded hands, compared to its average volume of 437,237. Jack Henry & Associates, Inc. has a 12 month low of $138.95 and a 12 month high of $186.93. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 3.36 and a beta of 0.64. The company has a fifty day moving average price of $177.16 and a 200-day moving average price of $169.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $563.37 million. During the same period in the previous year, the company posted $1.34 earnings per share. As a group, research analysts forecast that Jack Henry & Associates, Inc. will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates's payout ratio is 42.47%.

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.