Retirement Systems of Alabama Reduces Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Retirement Systems of Alabama lowered its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.8% in the third quarter, Holdings Channel reports. The institutional investor owned 15,956 shares of the technology company’s stock after selling 124 shares during the quarter. Retirement Systems of Alabama’s holdings in Jack Henry & Associates were worth $2,817,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Jack Henry & Associates by 188.4% during the second quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock worth $46,819,000 after acquiring an additional 184,210 shares during the last quarter. Mackenzie Financial Corp lifted 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 valued at $83,665,000 after purchasing an additional 171,041 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Jack Henry & Associates by 2,032.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock worth $22,540,000 after purchasing an additional 121,667 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Jack Henry & Associates by 80.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 207,757 shares of the technology company’s stock worth $36,677,000 after purchasing an additional 92,359 shares during the last quarter. Finally, Tandem Investment Advisors Inc. raised its holdings in Jack Henry & Associates by 20.4% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock valued at $83,496,000 after buying an additional 85,175 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on JKHY shares. Royal Bank of Canada increased their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods lifted their target price 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. UBS Group upped their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com cut Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Stephens reissued an “equal weight” rating and set a $170.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Jack Henry & Associates has an average rating of “Hold” and an average price target of $189.00.

Jack Henry & Associates Price Performance

JKHY stock opened at $176.74 on Friday. The business’s 50-day moving average is $178.41 and its two-hundred day moving average is $172.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $12.89 billion, a P/E ratio of 32.37, a P/E/G ratio of 3.37 and a beta of 0.61. Jack Henry & Associates, Inc. has a 1 year low of $157.00 and a 1 year high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last issued 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. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm had revenue of $600.98 million for the quarter, compared to analysts’ expectations of $599.56 million. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be paid 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 dividend yield of 1.24%. Jack Henry & Associates’s payout ratio is currently 40.29%.

Insider Activity at Jack Henry & Associates

In related news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the sale, the insider now owns 138,665 shares in the company, valued at $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

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.