HighTower Advisors LLC Cuts Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

HighTower Advisors LLC decreased its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,107 shares of the technology company’s stock after selling 261 shares during the period. HighTower Advisors LLC’s holdings in Jack Henry & Associates were worth $1,608,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Jack Henry & Associates by 9.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,372 shares of the technology company’s stock valued at $1,058,000 after buying an additional 545 shares during the last quarter. Blue Trust Inc. lifted its stake in Jack Henry & Associates by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares in the last quarter. Raymond James & Associates grew its position in shares of Jack Henry & Associates by 4.5% during the second quarter. Raymond James & Associates now owns 612,128 shares of the technology company’s stock valued at $101,625,000 after purchasing an additional 26,428 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Jack Henry & Associates by 0.4% during the second quarter. Nisa Investment Advisors LLC now owns 28,162 shares of the technology company’s stock valued at $4,675,000 after purchasing an additional 100 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Jack Henry & Associates by 14.5% in the second quarter. Fifth Third Bancorp now owns 1,270 shares of the technology company’s stock worth $211,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of NASDAQ:JKHY opened at $179.80 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a 12 month low of $157.00 and a 12 month high of $189.63. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 3.37 and a beta of 0.61. The firm’s 50-day moving average is $178.88 and its 200 day moving average is $172.12.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The business had revenue of $600.98 million during the quarter, compared to analyst estimates of $599.56 million. During the same quarter in the previous year, the business earned $1.39 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that Jack Henry & Associates, Inc. will post 5.8 EPS for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.20 annualized dividend and a dividend yield of 1.22%. Jack Henry & Associates’s dividend payout ratio (DPR) is 40.29%.

Analysts Set New Price Targets

JKHY has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. UBS Group boosted their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Compass Point started coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. Finally, Robert W. Baird boosted their target price on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Jack Henry & Associates currently has a consensus rating of “Hold” and a consensus target price of $189.00.

Insider Activity

In related news, insider David B. Foss sold 18,770 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares of the company’s stock, valued at $23,756,087.80. This represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.37% of the company’s stock.

About Jack Henry & Associates

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.