California State Teachers Retirement System Has $23.41 Million Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

California State Teachers Retirement System cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,270 shares of the technology company’s stock after selling 1,917 shares during the quarter. California State Teachers Retirement System owned approximately 0.21% of Jack Henry & Associates worth $23,406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Investment Company LLC acquired a new position in shares of Jack Henry & Associates in the first quarter worth $25,000. Tortoise Index Solutions LLC increased its stake in shares of Jack Henry & Associates by 48.9% in the first quarter. Tortoise Index Solutions LLC now owns 2,886 shares of the technology company’s stock worth $438,000 after acquiring an additional 948 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Jack Henry & Associates by 1.8% in the first quarter. Great West Life Assurance Co. Can now owns 118,939 shares of the technology company’s stock worth $17,925,000 after acquiring an additional 2,078 shares during the last quarter. Point72 Hong Kong Ltd increased its position in Jack Henry & Associates by 175.1% during the first quarter. Point72 Hong Kong Ltd now owns 9,869 shares of the technology company’s stock worth $1,497,000 after buying an additional 6,282 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Jack Henry & Associates by 774.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,129,176 shares of the technology company’s stock worth $171,319,000 after buying an additional 1,000,020 shares during the last quarter. 89.32% of the stock is currently owned by institutional investors and hedge funds.

JKHY has been the topic of several analyst reports. DA Davidson increased their target price on shares of Jack Henry & Associates from $182.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, April 23rd. Raymond James lowered their target price on shares of Jack Henry & Associates from $179.00 to $174.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 5th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $172.38.

NASDAQ JKHY opened at $173.13 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $162.27. Jack Henry & Associates, Inc. has a twelve month low of $141.65 and a twelve month high of $200.98. The company has a market capitalization of $12.86 billion, a PE ratio of 44.75, a PEG ratio of 2.73 and a beta of 0.60.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Sunday, May 2nd. The technology company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.09. Jack Henry & Associates had a net margin of 17.22% and a return on equity of 19.88%. The business had revenue of $433.78 million during the quarter, compared to analysts’ expectations of $439.61 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Jack Henry & Associates, Inc. will post 4 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 14th. Shareholders of record on Friday, May 28th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Thursday, May 27th. Jack Henry & Associates’s dividend payout ratio is 47.67%.

Jack Henry & Associates declared that its Board of Directors has approved a share repurchase program on Monday, May 17th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In other Jack Henry & Associates news, SVP Stacey E. Zengel sold 2,347 shares of the firm’s stock in a transaction dated Friday, June 25th. The shares were sold at an average price of $166.01, for a total transaction of $389,625.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is owned by company insiders.

About Jack Henry & Associates

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 asset 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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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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