GAM Holding AG cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 29.2% in the first quarter, Holdings Channel reports. The institutional investor owned 4,971 shares of the technology company’s stock after selling 2,048 shares during the period. GAM Holding AG’s holdings in Jack Henry & Associates were worth $690,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of JKHY. MML Investors Services LLC raised its stake in Jack Henry & Associates by 3.1% during the fourth quarter. MML Investors Services LLC now owns 4,832 shares of the technology company’s stock valued at $611,000 after buying an additional 146 shares in the last quarter. PFG Advisors acquired a new stake in Jack Henry & Associates during the fourth quarter valued at approximately $1,109,000. Vanguard Group Inc raised its stake in Jack Henry & Associates by 0.8% during the third quarter. Vanguard Group Inc now owns 7,854,780 shares of the technology company’s stock valued at $1,257,394,000 after buying an additional 60,151 shares in the last quarter. Bank of Nova Scotia acquired a new stake in Jack Henry & Associates during the fourth quarter valued at approximately $5,003,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Jack Henry & Associates by 7.2% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,305 shares of the technology company’s stock valued at $1,846,000 after buying an additional 899 shares in the last quarter. Institutional investors own 89.49% of the company’s stock.
In related news, insider Mark S. Forbis sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $134.74, for a total value of $134,740.00. Following the completion of the transaction, the insider now directly owns 1,013 shares of the company’s stock, valued at approximately $136,491.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Russell L. Bernthal sold 910 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $137.56, for a total value of $125,179.60. Following the completion of the transaction, the vice president now directly owns 4,831 shares of the company’s stock, valued at $664,552.36. The disclosure for this sale can be found here. Insiders have sold 2,310 shares of company stock valued at $313,912 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.
JKHY has been the topic of several research reports. Zacks Investment Research upgraded Jack Henry & Associates from a “sell” rating to a “hold” rating in a research note on Saturday, February 16th. Raymond James began coverage on Jack Henry & Associates in a report on Wednesday, February 20th. They set a “market perform” rating for the company. BidaskClub raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Saturday, March 16th. Finally, Keefe, Bruyette & Woods began coverage on Jack Henry & Associates in a report on Monday, April 8th. They set a “market perform” rating and a $145.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $150.40.
NASDAQ:JKHY opened at $136.79 on Wednesday. The company has a market cap of $10.56 billion, a PE ratio of 38.10, a P/E/G ratio of 3.52 and a beta of 0.96. Jack Henry & Associates, Inc. has a 52 week low of $120.20 and a 52 week high of $163.68.
Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, April 30th. The technology company reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $380.36 million during the quarter, compared to analyst estimates of $382.45 million. Jack Henry & Associates had a return on equity of 21.72% and a net margin of 18.79%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 earnings per share. On average, sell-side analysts predict that Jack Henry & Associates, Inc. will post 3.5 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Wednesday, May 22nd. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 44.57%.
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Jack Henry & Associates Profile
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
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