Jack Henry & Associates, Inc. $JKHY Stock Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 42.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,008 shares of the technology company’s stock after selling 4,359 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Jack Henry & Associates were worth $861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in shares of Jack Henry & Associates by 2.8% in the 3rd quarter. Park Avenue Securities LLC now owns 5,366 shares of the technology company’s stock worth $769,000 after purchasing an additional 144 shares during the period. Total Wealth Planning & Management Inc. purchased a new position in shares of Jack Henry & Associates in the third quarter worth about $1,531,000. Signaturefd LLC raised its position in shares of Jack Henry & Associates by 51.9% in the third quarter. Signaturefd LLC now owns 3,350 shares of the technology company’s stock valued at $480,000 after purchasing an additional 1,144 shares during the period. Gibbs Wealth Management boosted its holdings in Jack Henry & Associates by 5.1% in the 3rd quarter. Gibbs Wealth Management now owns 3,976 shares of the technology company’s stock worth $570,000 after buying an additional 193 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Jack Henry & Associates by 189.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,819 shares of the technology company’s stock worth $690,000 after acquiring an additional 3,156 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on JKHY shares. Barclays lifted their target price on Jack Henry & Associates from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $178.00 price target on shares of Jack Henry & Associates in a report on Wednesday, September 30th. Bank of America began coverage on Jack Henry & Associates in a research note on Thursday, October 15th. They issued a “neutral” rating and a $165.00 target price on the stock. UBS Group reissued a “neutral” rating on shares of Jack Henry & Associates in a report on Wednesday, September 16th. Finally, Piper Sandler raised shares of Jack Henry & Associates from a “neutral” rating to an “overweight” rating and set a $175.00 price target for the company in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $190.00.

Jack Henry & Associates Stock Down 1.1%

Shares of NASDAQ:JKHY opened at $161.66 on Wednesday. The stock’s 50-day moving average is $156.63 and its 200 day moving average is $154.59. The company has a market cap of $11.33 billion, a PE ratio of 23.45, a P/E/G ratio of 2.03 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.17 and a quick ratio of 1.17. Jack Henry & Associates, Inc. has a 1 year low of $121.04 and a 1 year high of $193.39.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.21. Jack Henry & Associates had a net margin of 19.76% and a return on equity of 23.49%. The business had revenue of $682.18 million for the quarter, compared to analysts’ expectations of $685.54 million. During the same quarter in the previous year, the business posted $1.97 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Jack Henry & Associates, Inc. will post 7.30 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Monday, September 7th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, September 4th. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 35.01%.

More Jack Henry & Associates News

Here are the key news stories impacting Jack Henry & Associates this week:

• Positive Sentiment: Fiscal Q1 diluted EPS was $2.28, up from $1.97 a year earlier and above analyst estimates. GAAP revenue rose 8.8%, while GAAP operating income increased 12.5%, signaling profitable growth. Jack Henry Q1 results
• Positive Sentiment: The ICBA added JHA Treasury Management to its preferred-provider program, making the solution available to member banks and potentially broadening its reach among community-bank customers. ICBA partnership announcement
• Negative Sentiment: Some earnings coverage put quarterly revenue at $682.18 million, below its $685.54 million estimate, which could weigh on sentiment despite the EPS beat. Other reports cited a different revenue figure and characterized sales as beating expectations, so the revenue comparison is inconsistent across reports. Revenue report

Jack Henry & Associates Profile

Jack Henry & Associates, Inc is a financial technology company that provides software, payment solutions and technology services to banks and credit unions. Its offerings are designed to support core banking operations, digital banking, account management, lending, payments, fraud prevention and other financial institution functions.

The company serves community and regional banks, credit unions and other financial services organizations in the United States. Its products are delivered through integrated platforms and services intended to help financial institutions manage daily operations, improve customer and member experiences, and connect with third-party financial technology providers.

Founded in 1976 and headquartered in Monett, Missouri, Jack Henry has expanded through internal development and acquisitions, including the 2004 acquisition of Symitar, a provider of core processing and related technology for credit unions.