M&T Bank Corp Cuts Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

M&T Bank Corp reduced its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 11.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,706 shares of the technology company’s stock after selling 1,655 shares during the period. M&T Bank Corp’s holdings in Jack Henry & Associates were worth $2,076,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in JKHY. Schwartz Investment Counsel Inc. grew its position in Jack Henry & Associates by 14.5% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 266,350 shares of the technology company’s stock valued at $43,524,000 after acquiring an additional 33,700 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Jack Henry & Associates by 16.1% in the 3rd quarter. Nordea Investment Management AB now owns 545,605 shares of the technology company’s stock worth $82,779,000 after buying an additional 75,735 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Jack Henry & Associates by 202.0% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,106 shares of the technology company’s stock valued at $1,527,000 after buying an additional 6,760 shares during the last quarter. abrdn plc grew its stake in shares of Jack Henry & Associates by 73.5% during the fourth quarter. abrdn plc now owns 31,048 shares of the technology company’s stock valued at $5,074,000 after acquiring an additional 13,150 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Jack Henry & Associates by 16.9% during the third quarter. LPL Financial LLC now owns 41,146 shares of the technology company’s stock worth $6,210,000 after acquiring an additional 5,960 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Trading Up 2.1 %

NASDAQ:JKHY opened at $169.04 on Friday. Jack Henry & Associates, Inc. has a 12-month low of $136.57 and a 12-month high of $178.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50 day simple moving average of $168.89 and a 200 day simple moving average of $164.28. The firm has a market capitalization of $12.32 billion, a P/E ratio of 33.08, a P/E/G ratio of 3.84 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The business had revenue of $538.56 million during the quarter, compared to analyst estimates of $541.80 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts predict that Jack Henry & Associates, Inc. will post 5.12 EPS for the current year.

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Tuesday, May 28th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.30%. Jack Henry & Associates’s payout ratio is currently 43.05%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on JKHY shares. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a report on Wednesday. Robert W. Baird raised their price target on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Royal Bank of Canada upped their price target on shares of Jack Henry & Associates from $161.00 to $181.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Evercore ISI raised their price objective on shares of Jack Henry & Associates from $157.00 to $172.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Finally, DA Davidson restated a “buy” rating and issued a $198.00 target price on shares of Jack Henry & Associates in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $174.42.

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.