Strategy Asset Managers LLC Reduces Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Strategy Asset Managers LLC reduced its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 65.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,856 shares of the technology company's stock after selling 3,551 shares during the period. Strategy Asset Managers LLC's holdings in Jack Henry & Associates were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tortoise Investment Management LLC increased its stake in shares of Jack Henry & Associates by 76.3% in the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company's stock valued at $27,000 after buying an additional 71 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in shares of Jack Henry & Associates in the first quarter worth about $30,000. Blue Trust Inc. lifted its position in shares of Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company's stock worth $39,000 after purchasing an additional 134 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Jack Henry & Associates during the third quarter worth approximately $48,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Jack Henry & Associates during the second quarter valued at approximately $63,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Oppenheimer assumed coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They set an "outperform" rating and a $206.00 price objective for the company. StockNews.com raised Jack Henry & Associates from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Royal Bank of Canada increased their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the company a "sector perform" rating in a research note on Thursday, November 7th. Compass Point began coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $186.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a "market perform" rating in a report on Thursday, November 7th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $188.73.

Jack Henry & Associates Stock Performance

JKHY opened at $171.12 on Thursday. Jack Henry & Associates, Inc. has a 52-week low of $151.77 and a 52-week high of $189.63. The firm's fifty day simple moving average is $179.34 and its two-hundred day simple moving average is $171.17. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 3.23 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. The firm had revenue of $600.98 million during the quarter, compared to the consensus estimate of $599.56 million. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS. Equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.29%. Jack Henry & Associates's payout ratio is 40.29%.

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.