Commonwealth Equity Services LLC Cuts Position in Jack Henry & Associates, Inc. (JKHY)

Commonwealth Equity Services LLC reduced its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,371 shares of the technology company’s stock after selling 1,292 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Jack Henry & Associates were worth $2,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of JKHY. CIBC World Markets Inc. raised its position in Jack Henry & Associates by 69.0% in the second quarter. CIBC World Markets Inc. now owns 9,413 shares of the technology company’s stock valued at $1,227,000 after purchasing an additional 3,842 shares during the period. Dakota Wealth Management purchased a new position in Jack Henry & Associates in the second quarter valued at about $1,033,000. First Hawaiian Bank purchased a new position in Jack Henry & Associates in the third quarter valued at about $324,000. California Public Employees Retirement System raised its position in Jack Henry & Associates by 18.2% in the second quarter. California Public Employees Retirement System now owns 229,231 shares of the technology company’s stock valued at $29,883,000 after purchasing an additional 35,326 shares during the period. Finally, Bank of Montreal Can raised its position in Jack Henry & Associates by 31.7% in the third quarter. Bank of Montreal Can now owns 50,508 shares of the technology company’s stock valued at $8,085,000 after purchasing an additional 12,155 shares during the period. 86.24% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on JKHY shares. Zacks Investment Research lowered Jack Henry & Associates from a “hold” rating to a “sell” rating in a research report on Saturday, November 10th. BidaskClub lowered Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 10th. ValuEngine lowered Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 8th. Wells Fargo & Co raised their price objective on Jack Henry & Associates from $110.00 to $160.00 and gave the company a “market perform” rating in a research report on Thursday, August 23rd. Finally, Cantor Fitzgerald raised their price objective on Jack Henry & Associates from $141.00 to $169.00 and gave the company an “overweight” rating in a research report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $143.00.

In other news, Director John F. Prim sold 6,329 shares of Jack Henry & Associates stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $157.40, for a total transaction of $996,184.60. Following the sale, the director now directly owns 206,318 shares of the company’s stock, valued at $32,474,453.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by insiders.

Shares of NASDAQ JKHY opened at $135.76 on Friday. Jack Henry & Associates, Inc. has a 1 year low of $112.30 and a 1 year high of $163.68. The stock has a market cap of $10.51 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 3.30 and a beta of 0.93.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, November 6th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.15. Jack Henry & Associates had a return on equity of 24.13% and a net margin of 25.29%. The business had revenue of $392.54 million for the quarter, compared to analyst estimates of $385.12 million. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Jack Henry & Associates, Inc. will post 3.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, November 30th. Jack Henry & Associates’s payout ratio is 41.23%.

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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.

See Also: Dollar Cost Averaging

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

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