Prana Capital Management LP Sells 14,145 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Prana Capital Management LP cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 23.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,273 shares of the technology company’s stock after selling 14,145 shares during the period. Prana Capital Management LP’s holdings in Jack Henry & Associates were worth $8,169,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tortoise Investment Management LLC boosted 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 during the last quarter. Blue Trust Inc. increased 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 worth $39,000 after buying an additional 134 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Jack Henry & Associates in the third quarter worth about $48,000. International Assets Investment Management LLC bought a new position in shares of Jack Henry & Associates during the 2nd quarter valued at approximately $63,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Jack Henry & Associates during the 3rd quarter worth approximately $68,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Price Performance

NASDAQ:JKHY opened at $175.33 on Wednesday. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $189.63. The stock has a fifty day moving average of $179.12 and a 200 day moving average of $171.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 32.11, a P/E/G ratio of 3.31 and a beta of 0.61.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.61 by $0.02. The company had revenue of $600.98 million during the quarter, compared to analyst estimates of $599.56 million. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. Jack Henry & Associates’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 earnings per share. On average, research analysts expect that Jack Henry & Associates, Inc. will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 40.29%.

Insider Buying and Selling

In other news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the sale, the insider now directly owns 138,665 shares in the company, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on JKHY. Royal Bank of Canada upped 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, November 7th. Compass Point began coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target for the company. UBS Group boosted their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Finally, William Blair lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Jack Henry & Associates has an average rating of “Hold” and a consensus target price of $188.73.

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.