Principal Financial Group Inc. cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Free Report) by 1.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 113,334 shares of the technology company’s stock after selling 1,266 shares during the period. Principal Financial Group Inc.’s holdings in Jack Henry & Associates were worth $17,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Jack Henry & Associates by 2.8% in the first quarter. Arizona State Retirement System now owns 21,208 shares of the technology company’s stock valued at $3,196,000 after purchasing an additional 573 shares during the period. Creative Planning raised its position in shares of Jack Henry & Associates by 5.8% in the fourth quarter. Creative Planning now owns 8,749 shares of the technology company’s stock valued at $1,536,000 after purchasing an additional 482 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Jack Henry & Associates by 1.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 32,054 shares of the technology company’s stock valued at $5,687,000 after purchasing an additional 532 shares during the period. American International Group Inc. increased its position in Jack Henry & Associates by 20.8% during the fourth quarter. American International Group Inc. now owns 24,414 shares of the technology company’s stock worth $4,286,000 after acquiring an additional 4,197 shares during the period. Finally, Raymond James Trust N.A. raised its stake in Jack Henry & Associates by 7.5% in the 1st quarter. Raymond James Trust N.A. now owns 4,958 shares of the technology company’s stock worth $747,000 after purchasing an additional 346 shares in the last quarter. 92.03% of the stock is owned by institutional investors.
Jack Henry & Associates Trading Up 0.3 %
Shares of Jack Henry & Associates stock opened at $158.37 on Friday. The firm has a market capitalization of $11.54 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 4.65 and a beta of 0.65. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $166.15 and its 200 day moving average is $159.64. Jack Henry & Associates, Inc. has a 1 year low of $139.28 and a 1 year high of $202.66.
Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 16th. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.15. The company had revenue of $534.63 million for the quarter, compared to analyst estimates of $512.78 million. Jack Henry & Associates had a net margin of 17.65% and a return on equity of 24.39%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 EPS. Equities research analysts forecast that Jack Henry & Associates, Inc. will post 4.98 earnings per share for the current fiscal year.
Jack Henry & Associates Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, September 7th. Jack Henry & Associates’s payout ratio is 41.43%.
Analyst Ratings Changes
Several analysts have weighed in on JKHY shares. TheStreet upgraded shares of Jack Henry & Associates from a “c+” rating to a “b” rating in a research note on Tuesday, August 15th. Bank of America dropped their price objective on shares of Jack Henry & Associates from $173.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Royal Bank of Canada dropped their price objective on shares of Jack Henry & Associates from $184.00 to $181.00 and set a “sector perform” rating for the company in a research note on Thursday, August 17th. Morgan Stanley dropped their price objective on shares of Jack Henry & Associates from $165.00 to $162.00 and set an “equal weight” rating for the company in a research note on Thursday, August 17th. Finally, StockNews.com initiated coverage on shares of Jack Henry & Associates in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $173.08.
View Our Latest Research Report on JKHY
Jack Henry & Associates Company Profile
Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology and services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The company offers information and transaction processing solutions for banks ranging from community to multi-billion-dollar asset 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.
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