Advisors Asset Management Inc. Sells 9,466 Shares of Jack Henry & Associates, Inc. (JKHY)

Advisors Asset Management Inc. cut its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 76.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,856 shares of the technology company’s stock after selling 9,466 shares during the period. Advisors Asset Management Inc.’s holdings in Jack Henry & Associates were worth $2,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Jack Henry & Associates by 1.5% in the 2nd quarter. BlackRock Inc. now owns 8,994,351 shares of the technology company’s stock valued at $1,172,505,000 after purchasing an additional 130,418 shares during the period. Wells Fargo & Company MN boosted its stake in Jack Henry & Associates by 5.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,218,351 shares of the technology company’s stock valued at $158,825,000 after purchasing an additional 57,827 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Jack Henry & Associates by 9.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 866,726 shares of the technology company’s stock valued at $112,987,000 after purchasing an additional 72,188 shares during the period. Bank of America Corp DE boosted its stake in Jack Henry & Associates by 11.0% in the 2nd quarter. Bank of America Corp DE now owns 513,040 shares of the technology company’s stock valued at $66,880,000 after purchasing an additional 50,808 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Jack Henry & Associates by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 405,132 shares of the technology company’s stock valued at $49,001,000 after purchasing an additional 2,276 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

NASDAQ:JKHY opened at $159.19 on Friday. The firm has a market cap of $12.33 billion, a PE ratio of 44.34, a P/E/G ratio of 3.62 and a beta of 0.92. Jack Henry & Associates, Inc. has a fifty-two week low of $101.30 and a fifty-two week high of $163.68.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, August 21st. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. The firm had revenue of $417.20 million during the quarter, compared to the consensus estimate of $407.57 million. Jack Henry & Associates had a return on equity of 23.72% and a net margin of 24.51%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. sell-side analysts anticipate that Jack Henry & Associates, Inc. will post 4.01 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 11th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.93%. Jack Henry & Associates’s payout ratio is 41.23%.

In other news, Director John F. Prim sold 6,329 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $157.40, for a total transaction of $996,184.60. Following the completion of the sale, the director now directly owns 206,318 shares in the company, valued at approximately $32,474,453.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

A number of analysts have recently weighed in on JKHY shares. Zacks Investment Research upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating and set a $146.00 target price for the company in a research report on Wednesday, July 4th. BidaskClub downgraded Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. Cantor Fitzgerald reiterated a “buy” rating and set a $141.00 target price on shares of Jack Henry & Associates in a research report on Tuesday, August 21st. Wells Fargo & Co upped their target price on Jack Henry & Associates from $110.00 to $160.00 and gave the company a “market perform” rating in a research report on Thursday, August 23rd. Finally, Robert W. Baird upped their target price on Jack Henry & Associates from $128.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $137.29.

About Jack Henry & Associates

Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar 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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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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