Jack Henry & Associates, Inc. (NASDAQ:JKHY) Position Lowered by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 48.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,590 shares of the technology company’s stock after selling 2,471 shares during the period. Cresset Asset Management LLC’s holdings in Jack Henry & Associates were worth $454,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. National Pension Service bought a new position in shares of Jack Henry & Associates during the fourth quarter worth about $27,000. Atala Financial Inc bought a new position in shares of Jack Henry & Associates during the fourth quarter worth about $40,000. Manchester Capital Management LLC lifted its position in shares of Jack Henry & Associates by 11,750.0% during the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the technology company’s stock worth $42,000 after purchasing an additional 235 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in shares of Jack Henry & Associates during the fourth quarter worth about $54,000. Finally, Tortoise Investment Management LLC lifted its position in shares of Jack Henry & Associates by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 329 shares of the technology company’s stock worth $58,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY opened at $177.91 on Thursday. The firm’s 50 day moving average is $175.16 and its two-hundred day moving average is $174.99. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week high of $196.00. The firm has a market capitalization of $12.97 billion, a P/E ratio of 32.11, a PEG ratio of 3.36 and a beta of 0.75. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.29 by $0.23. Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. The company had revenue of $585.09 million for the quarter, compared to analyst estimates of $585.84 million. During the same quarter last year, the business earned $1.19 earnings per share. Jack Henry & Associates’s revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.32 annualized dividend and a dividend yield of 1.30%. Jack Henry & Associates’s payout ratio is currently 39.52%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Northcoast Research cut shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a report on Monday, March 10th. The Goldman Sachs Group raised shares of Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 target price on the stock in a report on Wednesday, April 2nd. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Monday. Finally, Keefe, Bruyette & Woods cut their target price on shares of Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $184.10.

About Jack Henry & Associates

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.