Cresset Asset Management LLC Decreases Stake in Jack Henry & Associates, Inc. $JKHY

Cresset Asset Management LLC lowered its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,360 shares of the technology company’s stock after selling 230 shares during the quarter. Cresset Asset Management LLC’s holdings in Jack Henry & Associates were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. raised its stake in shares of Jack Henry & Associates by 147.5% in the first quarter. Assetmark Inc. now owns 250 shares of the technology company’s stock worth $46,000 after purchasing an additional 149 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Jack Henry & Associates by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 625,991 shares of the technology company’s stock worth $114,306,000 after purchasing an additional 6,342 shares during the last quarter. Tandem Investment Advisors Inc. increased its position in Jack Henry & Associates by 14.5% during the first quarter. Tandem Investment Advisors Inc. now owns 649,236 shares of the technology company’s stock valued at $118,550,000 after acquiring an additional 82,414 shares during the last quarter. Bridges Investment Management Inc. increased its position in Jack Henry & Associates by 82.7% during the first quarter. Bridges Investment Management Inc. now owns 6,720 shares of the technology company’s stock valued at $1,227,000 after acquiring an additional 3,041 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Jack Henry & Associates by 928.9% during the first quarter. Penserra Capital Management LLC now owns 5,340 shares of the technology company’s stock valued at $974,000 after acquiring an additional 4,821 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling

In related news, Director David B. Foss sold 5,780 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $167.28, for a total transaction of $966,878.40. Following the completion of the transaction, the director directly owned 139,265 shares of the company’s stock, valued at approximately $23,296,249.20. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on JKHY shares. Keefe, Bruyette & Woods reduced their price objective on Jack Henry & Associates from $183.00 to $178.00 and set a “market perform” rating for the company in a research report on Thursday. UBS Group reduced their price objective on Jack Henry & Associates from $185.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday. DA Davidson reiterated a “buy” rating and set a $212.00 price objective on shares of Jack Henry & Associates in a research report on Monday, August 18th. Royal Bank Of Canada reduced their price objective on Jack Henry & Associates from $203.00 to $185.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, Wall Street Zen upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $183.50.

Jack Henry & Associates Price Performance

Shares of Jack Henry & Associates stock opened at $165.56 on Monday. The stock has a 50 day moving average of $173.70 and a 200 day moving average of $175.25. Jack Henry & Associates, Inc. has a 12 month low of $157.80 and a 12 month high of $196.00. The firm has a market cap of $12.06 billion, a PE ratio of 26.53, a PEG ratio of 2.95 and a beta of 0.73. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, August 19th. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.25. Jack Henry & Associates had a return on equity of 22.60% and a net margin of 19.19%.The company had revenue of $615.37 million during the quarter, compared to analyst estimates of $602.20 million. During the same period in the prior year, the company earned $1.33 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. Jack Henry & Associates has set its FY 2026 guidance at EPS. On average, research analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates 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.