Ritholtz Wealth Management Sells 418 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Ritholtz Wealth Management cut its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 14.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,483 shares of the technology company’s stock after selling 418 shares during the period. Ritholtz Wealth Management’s holdings in Jack Henry & Associates were worth $412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of JKHY. New Covenant Trust Company N.A. bought a new position in Jack Henry & Associates in the 1st quarter valued at $30,000. Blue Trust Inc. grew its position in Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock valued at $39,000 after buying an additional 134 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in Jack Henry & Associates during the fourth quarter worth about $44,000. Riverview Trust Co bought a new stake in Jack Henry & Associates in the first quarter worth about $51,000. Finally, International Assets Investment Management LLC bought a new stake in Jack Henry & Associates in the second quarter worth about $63,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $174.09 on Thursday. The company’s 50 day simple moving average is $167.10 and its two-hundred day simple moving average is $167.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.39. Jack Henry & Associates, Inc. has a 1 year low of $136.57 and a 1 year high of $178.37. The stock has a market capitalization of $12.69 billion, a PE ratio of 33.61, a P/E/G ratio of 3.07 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The company had revenue of $559.91 million for the quarter, compared to the consensus estimate of $563.37 million. During the same quarter last year, the business posted $1.34 earnings per share. Analysts predict that Jack Henry & Associates, Inc. will post 5.79 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, September 6th. Jack Henry & Associates’s dividend payout ratio (DPR) is 42.47%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JKHY. StockNews.com upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Evercore ISI boosted their target price on Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods upped their price target on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, August 22nd. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a report on Wednesday, May 8th. Finally, Compass Point initiated coverage on shares of Jack Henry & Associates in a report on Wednesday. They set a “neutral” rating and a $186.00 price objective on the stock. One equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $177.25.

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.