State Board of Administration of Florida Retirement System Reduces Position in Jack Henry & Associates, Inc. (JKHY)

State Board of Administration of Florida Retirement System lowered its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.6% in the third quarter, HoldingsChannel reports. The firm owned 106,005 shares of the technology company’s stock after selling 670 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Jack Henry & Associates were worth $16,969,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Jack Henry & Associates by 1.5% in the second 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 in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Jack Henry & Associates by 5.0% in the second 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 in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Jack Henry & Associates by 5.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 910,874 shares of the technology company’s stock valued at $145,839,000 after purchasing an additional 44,148 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Jack Henry & Associates by 1.0% in the second quarter. Northern Trust Corp now owns 769,516 shares of the technology company’s stock valued at $100,315,000 after purchasing an additional 7,296 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Jack Henry & Associates by 11.0% in the second 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 in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Jack Henry & Associates from a “hold” rating to a “sell” rating in a research note on Saturday. BidaskClub downgraded shares of Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a research note on Saturday. ValuEngine downgraded shares of Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Co lifted their price target on shares of Jack Henry & Associates from $110.00 to $160.00 and gave the stock a “market perform” rating in a research note on Thursday, August 23rd. Finally, Cantor Fitzgerald lifted their price target on shares of Jack Henry & Associates from $141.00 to $169.00 and gave the stock an “overweight” rating in a research note on Thursday, August 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Jack Henry & Associates presently has an average rating of “Hold” and a consensus target price of $143.00.

Shares of Jack Henry & Associates stock opened at $141.50 on Friday. Jack Henry & Associates, Inc. has a 52-week low of $111.37 and a 52-week high of $163.68. The company has a market capitalization of $11.33 billion, a P/E ratio of 39.42, a PEG ratio of 3.31 and a beta of 0.93.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.15. Jack Henry & Associates had a net margin of 25.29% and a return on equity of 24.13%. The company had revenue of $392.54 million during the quarter, compared to the consensus estimate of $385.12 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Jack Henry & Associates, Inc. will post 3.96 EPS for the current fiscal year.

In other news, Director John F. Prim sold 6,329 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The shares were 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 owns 206,318 shares in the company, valued at approximately $32,474,453.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is currently owned by insiders.

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Jack Henry & Associates Profile

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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