Municipal Employees Retirement System of Michigan reduced its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 21.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,420 shares of the technology company’s stock after selling 6,550 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Jack Henry & Associates were worth $2,407,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Synovus Financial Corp raised its holdings in shares of Jack Henry & Associates by 21.9% during the 2nd quarter. Synovus Financial Corp now owns 12,251 shares of the technology company’s stock valued at $1,277,000 after buying an additional 2,202 shares during the period. Moody Aldrich Partners LLC purchased a new stake in shares of Jack Henry & Associates during the 2nd quarter valued at about $219,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Jack Henry & Associates during the 2nd quarter valued at about $3,302,000. Dimensional Fund Advisors LP raised its holdings in shares of Jack Henry & Associates by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 407,667 shares of the technology company’s stock valued at $42,345,000 after buying an additional 7,267 shares during the period. Finally, Shelton Capital Management purchased a new stake in shares of Jack Henry & Associates during the 2nd quarter valued at about $607,000. Institutional investors and hedge funds own 90.13% of the company’s stock.
Several equities research analysts recently commented on the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a $103.00 target price (up from $96.00) on shares of Jack Henry & Associates in a report on Thursday, November 9th. Cantor Fitzgerald lifted their price objective on Jack Henry & Associates to $128.00 and gave the stock an “overweight” rating in a report on Thursday, November 9th. Robert W. Baird restated a “hold” rating and set a $114.00 price objective on shares of Jack Henry & Associates in a report on Friday. Finally, Zacks Investment Research upgraded Jack Henry & Associates from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $110.50.
In other news, VP Mark S. Forbis sold 2,600 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $101.16, for a total value of $263,016.00. Following the completion of the sale, the vice president now directly owns 1,696 shares in the company, valued at approximately $171,567.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin D. Williams sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $101.63, for a total value of $2,032,600.00. Following the completion of the sale, the insider now owns 43,314 shares of the company’s stock, valued at $4,402,001.82. The disclosure for this sale can be found here. 0.78% of the stock is owned by insiders.
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Jack Henry & Associates, Inc. (JKHY) traded down $0.84 during mid-day trading on Tuesday, reaching $112.85. The company’s stock had a trading volume of 350,700 shares, compared to its average volume of 383,242. Jack Henry & Associates, Inc. has a 52 week low of $84.25 and a 52 week high of $115.34. The stock has a market cap of $8,710.00, a P/E ratio of 36.56, a PEG ratio of 3.01 and a beta of 0.77.
Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, August 15th. The technology company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. Jack Henry & Associates had a return on equity of 23.92% and a net margin of 17.08%. The company had revenue of $383.77 million for the quarter, compared to the consensus estimate of $372.98 million. During the same period in the previous year, the business earned $1.06 EPS. Jack Henry & Associates’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts anticipate that Jack Henry & Associates, Inc. will post 3.29 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.24 annualized dividend and a yield of 1.10%. Jack Henry & Associates’s dividend payout ratio is presently 39.12%.
Jack Henry & Associates Profile
Jack Henry & Associates, Inc is a provider of information processing solutions for community banks. The Company offers a range of products and services, including processing transactions, automating business processes, and managing information financial institutions and diverse corporate entities. It operates in two segments: bank systems and services (Bank) and credit union systems and services (Credit Union).
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