Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 5.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,645 shares of the technology company’s stock after selling 727 shares during the quarter. M&T Bank Corp’s holdings in Jack Henry & Associates were worth $2,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of Jack Henry & Associates by 21.1% in the third quarter. Principal Financial Group Inc. now owns 341,460 shares of the technology company’s stock valued at $60,281,000 after buying an additional 59,450 shares in the last quarter. Portside Wealth Group LLC grew its holdings in shares of Jack Henry & Associates by 6.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,370 shares of the technology company’s stock worth $242,000 after acquiring an additional 88 shares during the last quarter. Bridges Investment Management Inc. raised its position in shares of Jack Henry & Associates by 1.7% during the third quarter. Bridges Investment Management Inc. now owns 3,256 shares of the technology company’s stock worth $575,000 after purchasing an additional 55 shares during the period. Covestor Ltd lifted its holdings in shares of Jack Henry & Associates by 32.6% during the third quarter. Covestor Ltd now owns 1,013 shares of the technology company’s stock valued at $179,000 after purchasing an additional 249 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in shares of Jack Henry & Associates during the third quarter valued at $321,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Stock Performance

JKHY stock opened at $191.28 on Monday. The stock has a market cap of $13.94 billion, a P/E ratio of 34.53, a P/E/G ratio of 3.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50 day simple moving average of $173.45 and a 200 day simple moving average of $175.76. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week high of $193.02.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. Research analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th will be given a $0.58 dividend. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. This represents a $2.32 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 6th. Jack Henry & Associates’s dividend payout ratio is presently 41.88%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JKHY. Wells Fargo & Company initiated coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price target on the stock. StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, William Blair restated an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $186.80.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.