Handelsbanken Fonder AB Sells 305,658 Shares of Jack Henry & Associates, Inc. $JKHY

Handelsbanken Fonder AB lessened its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 47.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,592 shares of the technology company’s stock after selling 305,658 shares during the period. Handelsbanken Fonder AB’s holdings in Jack Henry & Associates were worth $46,913,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JKHY. Janus Henderson Group PLC boosted its holdings in Jack Henry & Associates by 13,343.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company’s stock valued at $170,430,000 after acquiring an additional 1,070,376 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Jack Henry & Associates by 160.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,350,393 shares of the technology company’s stock worth $246,420,000 after purchasing an additional 831,372 shares during the period. Norges Bank purchased a new stake in Jack Henry & Associates in the fourth quarter worth $128,744,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Jack Henry & Associates by 6,728.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 621,546 shares of the technology company’s stock valued at $113,420,000 after purchasing an additional 612,444 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Jack Henry & Associates by 560.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 557,078 shares of the technology company’s stock worth $101,656,000 after purchasing an additional 472,698 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Performance

JKHY stock opened at $153.63 on Wednesday. Jack Henry & Associates, Inc. has a 1-year low of $121.04 and a 1-year high of $193.39. The business has a 50-day moving average price of $142.48 and a 200 day moving average price of $152.31. The company has a market capitalization of $10.92 billion, a P/E ratio of 21.49, a PEG ratio of 2.18 and a beta of 0.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74.

Analyst Upgrades and Downgrades

JKHY has been the topic of several recent analyst reports. Morgan Stanley set a $170.00 price target on shares of Jack Henry & Associates in a research note on Friday, May 8th. The Goldman Sachs Group lowered their price objective on shares of Jack Henry & Associates from $180.00 to $161.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Weiss Ratings downgraded shares of Jack Henry & Associates from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Royal Bank Of Canada reduced their target price on shares of Jack Henry & Associates from $180.00 to $173.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Finally, Barclays began coverage on shares of Jack Henry & Associates in a research note on Tuesday, July 7th. They set an “overweight” rating and a $170.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.71.

Insider Transactions at Jack Henry & Associates

In other Jack Henry & Associates news, CFO Mimi Carsley bought 375 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $134.12 per share, with a total value of $50,295.00. Following the transaction, the chief financial officer owned 6,007 shares of the company’s stock, valued at approximately $805,658.84. This trade represents a 6.66% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory R. Adelson purchased 2,000 shares of Jack Henry & Associates stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $133.42 per share, with a total value of $266,840.00. Following the acquisition, the chief executive officer owned 21,036 shares in the company, valued at approximately $2,806,623.12. This represents a 10.51% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company’s core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.