Alliancebernstein L.P. Sells 1,275 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Alliancebernstein L.P. lowered its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,457 shares of the technology company’s stock after selling 1,275 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Jack Henry & Associates worth $14,104,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC raised its stake in Jack Henry & Associates by 7.8% during the 3rd quarter. FMR LLC now owns 19,815 shares of the technology company’s stock worth $3,498,000 after buying an additional 1,428 shares during the period. IHT Wealth Management LLC bought a new stake in shares of Jack Henry & Associates in the third quarter worth about $284,000. Point72 Asset Management L.P. acquired a new stake in shares of Jack Henry & Associates during the third quarter worth about $54,000. Wellington Management Group LLP lifted its holdings in shares of Jack Henry & Associates by 13.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,463 shares of the technology company’s stock valued at $435,000 after purchasing an additional 288 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its stake in Jack Henry & Associates by 17.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 1,807 shares of the technology company’s stock worth $319,000 after purchasing an additional 266 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Jack Henry & Associates Trading Down 3.4 %

Shares of Jack Henry & Associates stock opened at $163.54 on Wednesday. Jack Henry & Associates, Inc. has a 12-month low of $157.00 and a 12-month high of $196.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $174.84 and its 200-day moving average is $176.34. The stock has a market cap of $11.92 billion, a P/E ratio of 29.52, a P/E/G ratio of 3.36 and a beta of 0.71.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. Equities research analysts predict that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Thursday, March 6th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s payout ratio is 41.88%.

Analysts Set New Price Targets

A number of brokerages have weighed in on JKHY. Northcoast Research lowered shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Wells Fargo & Company began coverage on Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price target on the stock. Finally, The Goldman Sachs Group raised Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 target price on the stock in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $186.45.

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.