Amalgamated Bank Reduces Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Amalgamated Bank reduced its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,081 shares of the technology company’s stock after selling 99 shares during the period. Amalgamated Bank’s holdings in Jack Henry & Associates were worth $2,571,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Atala Financial Inc purchased a new position in Jack Henry & Associates in the fourth quarter valued at approximately $40,000. Cary Street Partners Financial LLC bought a new stake in shares of Jack Henry & Associates in the fourth quarter valued at $54,000. Tortoise Investment Management LLC lifted its position in shares of Jack Henry & Associates by 76.9% during the 4th quarter. Tortoise Investment Management LLC now owns 329 shares of the technology company’s stock valued at $58,000 after buying an additional 143 shares during the last quarter. Menard Financial Group LLC bought a new position in shares of Jack Henry & Associates during the 4th quarter worth $60,000. Finally, Brown Brothers Harriman & Co. increased its holdings in Jack Henry & Associates by 603.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the technology company’s stock worth $64,000 after acquiring an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. The Goldman Sachs Group raised shares of Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price objective on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on shares of Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group reduced their price objective on shares of Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Finally, Northcoast Research cut shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Jack Henry & Associates presently has a consensus rating of “Hold” and an average target price of $185.11.

Jack Henry & Associates Price Performance

NASDAQ:JKHY opened at $181.41 on Friday. Jack Henry & Associates, Inc. has a 52-week low of $158.62 and a 52-week high of $196.00. The stock has a fifty day moving average of $179.50 and a 200 day moving average of $176.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 2.93 and a beta of 0.72.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.23. The firm had revenue of $585.09 million during the quarter, compared to the consensus estimate of $585.84 million. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. On average, research analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, May 29th. Jack Henry & Associates’s payout ratio is 39.52%.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.