NewEdge Wealth LLC Sells 723 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

NewEdge Wealth LLC trimmed its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,676 shares of the technology company’s stock after selling 723 shares during the period. NewEdge Wealth LLC’s holdings in Jack Henry & Associates were worth $5,553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bridges Investment Management Inc. raised its position in shares of Jack Henry & Associates by 1.7% during the 3rd quarter. Bridges Investment Management Inc. now owns 3,256 shares of the technology company’s stock valued at $575,000 after purchasing an additional 55 shares during the period. D.A. Davidson & CO. raised its position in shares of Jack Henry & Associates by 1.2% during the 3rd quarter. D.A. Davidson & CO. now owns 4,969 shares of the technology company’s stock valued at $877,000 after purchasing an additional 61 shares during the period. Townsquare Capital LLC raised its position in shares of Jack Henry & Associates by 0.7% during the 3rd quarter. Townsquare Capital LLC now owns 9,601 shares of the technology company’s stock valued at $1,695,000 after purchasing an additional 67 shares during the period. Willis Investment Counsel raised its position in shares of Jack Henry & Associates by 1.9% during the 4th quarter. Willis Investment Counsel now owns 3,650 shares of the technology company’s stock valued at $640,000 after purchasing an additional 68 shares during the period. Finally, Huntington National Bank raised its position in shares of Jack Henry & Associates by 20.9% during the 3rd quarter. Huntington National Bank now owns 451 shares of the technology company’s stock valued at $80,000 after purchasing an additional 78 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JKHY has been the topic of a number of research reports. UBS Group lifted their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Stephens reiterated an “equal weight” rating and issued a $170.00 price target on shares of Jack Henry & Associates in a report on Wednesday, November 6th. Wells Fargo & Company initiated coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. 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 company currently has an average rating of “Hold” and an average target price of $186.80.

Jack Henry & Associates Price Performance

JKHY stock opened at $171.87 on Friday. Jack Henry & Associates, Inc. has a 12 month low of $157.00 and a 12 month high of $189.63. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $173.13 and a 200 day moving average price of $174.98. The stock has a market cap of $12.53 billion, a PE ratio of 31.02, a P/E/G ratio of 3.36 and a beta of 0.61.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results 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 return on equity of 21.55% and a net margin of 17.83%. Equities research analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 6th will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, March 6th. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.35%. Jack Henry & Associates’s payout ratio is currently 41.88%.

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.