Russell Investments Group Ltd. Sells 15,738 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Russell Investments Group Ltd. lowered its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 25.3% in the fourth quarter, Holdings Channel reports. The fund owned 46,481 shares of the technology company’s stock after selling 15,738 shares during the quarter. Russell Investments Group Ltd.’s holdings in Jack Henry & Associates were worth $7,597,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Guinness Asset Management LTD raised its position in Jack Henry & Associates by 2.9% in the third quarter. Guinness Asset Management LTD now owns 2,644 shares of the technology company’s stock valued at $400,000 after purchasing an additional 74 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in Jack Henry & Associates by 0.8% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 9,654 shares of the technology company’s stock worth $1,459,000 after acquiring an additional 81 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Jack Henry & Associates by 1.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,504 shares of the technology company’s stock valued at $1,134,000 after acquiring an additional 83 shares during the period. Cardinal Capital Management raised its stake in shares of Jack Henry & Associates by 0.7% during the fourth quarter. Cardinal Capital Management now owns 13,380 shares of the technology company’s stock valued at $2,186,000 after acquiring an additional 89 shares during the last quarter. Finally, Capital Advisors Inc. OK lifted its holdings in shares of Jack Henry & Associates by 8.4% during the fourth quarter. Capital Advisors Inc. OK now owns 1,590 shares of the technology company’s stock worth $260,000 after purchasing an additional 123 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JKHY has been the subject of a number of recent research reports. Wolfe Research began coverage on Jack Henry & Associates in a report on Thursday, March 7th. They issued a “peer perform” rating for the company. Royal Bank of Canada increased their target price on shares of Jack Henry & Associates from $161.00 to $181.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. DA Davidson restated a “buy” rating and issued a $198.00 price target on shares of Jack Henry & Associates in a research report on Tuesday, April 30th. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, February 7th. Finally, StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Jack Henry & Associates currently has a consensus rating of “Hold” and a consensus price target of $174.42.

Jack Henry & Associates Stock Performance

Shares of JKHY opened at $165.65 on Wednesday. Jack Henry & Associates, Inc. has a one year low of $136.57 and a one year high of $178.37. The company has a market cap of $12.07 billion, a PE ratio of 32.42, a P/E/G ratio of 3.84 and a beta of 0.66. The stock has a 50-day moving average of $169.14 and a 200-day moving average of $164.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.37 and a quick ratio of 1.37.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.02. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. The firm had revenue of $538.56 million during the quarter, compared to analysts’ expectations of $541.80 million. During the same quarter last year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts predict that Jack Henry & Associates, Inc. will post 5.12 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.52. This represents a $2.20 annualized dividend and a dividend yield of 1.33%. Jack Henry & Associates’s payout ratio is presently 43.05%.

Jack Henry & Associates Company 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.