Neuberger Berman Group LLC lessened its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Get Rating) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 999,344 shares of the technology company’s stock after selling 20,045 shares during the quarter. Neuberger Berman Group LLC owned about 1.37% of Jack Henry & Associates worth $196,929,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of JKHY. National Asset Management Inc. raised its position in shares of Jack Henry & Associates by 134.7% in the 1st quarter. National Asset Management Inc. now owns 4,152 shares of the technology company’s stock valued at $819,000 after purchasing an additional 2,383 shares in the last quarter. Tcwp LLC acquired a new position in shares of Jack Henry & Associates in the 1st quarter valued at approximately $45,000. Johnson Investment Counsel Inc. acquired a new position in shares of Jack Henry & Associates in the 1st quarter valued at approximately $1,437,000. JustInvest LLC raised its position in shares of Jack Henry & Associates by 43.2% in the 4th quarter. JustInvest LLC now owns 7,929 shares of the technology company’s stock valued at $1,324,000 after purchasing an additional 2,393 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Jack Henry & Associates in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.80% of the company’s stock.
Analyst Upgrades and Downgrades
JKHY has been the topic of several research reports. Morgan Stanley dropped their price target on Jack Henry & Associates from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 18th. StockNews.com lowered Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Evercore ISI upped their price target on Jack Henry & Associates to $175.00 in a research report on Tuesday, August 23rd. DA Davidson lowered Jack Henry & Associates from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research report on Thursday, August 18th. Finally, Royal Bank of Canada upped their price target on Jack Henry & Associates from $190.00 to $199.00 and gave the company a “sector perform” rating in a research report on Thursday, August 18th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $184.00.
Jack Henry & Associates Price Performance
Jack Henry & Associates (NASDAQ:JKHY – Get Rating) last released its quarterly earnings results on Tuesday, August 16th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Jack Henry & Associates had a return on equity of 26.99% and a net margin of 18.68%. The company had revenue of $482.67 million during the quarter, compared to analysts’ expectations of $480.30 million. During the same quarter in the prior year, the business posted $1.04 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts expect that Jack Henry & Associates, Inc. will post 4.92 EPS for the current year.
Jack Henry & Associates Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, September 9th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.96 annualized dividend and a dividend yield of 1.02%. Jack Henry & Associates’s payout ratio is 39.68%.
About Jack Henry & Associates
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The company offers information and transaction processing solutions for banks ranging from community to multi-billion-dollar asset institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
- Get a free copy of the StockNews.com research report on Jack Henry & Associates (JKHY)
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