Vestcor Inc Sells 1,461 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Vestcor Inc cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 4.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 31,695 shares of the technology company’s stock after selling 1,461 shares during the quarter. Vestcor Inc’s holdings in Jack Henry & Associates were worth $5,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of JKHY. Cullen Frost Bankers Inc. bought a new position in Jack Henry & Associates in the first quarter valued at about $38,000. Assetmark Inc. grew its stake in shares of Jack Henry & Associates by 147.5% during the 1st quarter. Assetmark Inc. now owns 250 shares of the technology company’s stock valued at $46,000 after purchasing an additional 149 shares during the period. Cary Street Partners Financial LLC purchased a new stake in shares of Jack Henry & Associates during the 4th quarter valued at about $54,000. Menard Financial Group LLC bought a new position in shares of Jack Henry & Associates in the 4th quarter worth approximately $60,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Jack Henry & Associates by 603.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the technology company’s stock worth $64,000 after buying an additional 314 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Down 1.2%

JKHY opened at $173.35 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.36 and a current ratio of 1.36. Jack Henry & Associates, Inc. has a fifty-two week low of $160.23 and a fifty-two week high of $196.00. The firm’s fifty day moving average is $179.60 and its 200 day moving average is $176.43. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of 29.53 and a beta of 0.72.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.23. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The company had revenue of $585.09 million for the quarter, compared to analysts’ expectations of $585.84 million. During the same quarter in the previous year, the company earned $1.19 EPS. Jack Henry & Associates’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Thursday, May 29th. Jack Henry & Associates’s dividend payout ratio (DPR) is 39.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JKHY. Wall Street Zen cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Monday, July 21st. The Goldman Sachs Group upgraded Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price objective for the company in a research note on Wednesday, April 2nd. UBS Group decreased their target price on Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods cut their price target on Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating for the company in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $185.11.

Jack Henry & Associates Company 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.