First Merchants Corp Sells 306 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

First Merchants Corp reduced its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,956 shares of the technology company’s stock after selling 306 shares during the period. First Merchants Corp’s holdings in Jack Henry & Associates were worth $1,219,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in JKHY. Fortitude Family Office LLC lifted its holdings in Jack Henry & Associates by 647.4% during the 4th quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Jack Henry & Associates during the third quarter valued at about $26,000. ORG Partners LLC purchased a new stake in shares of Jack Henry & Associates in the fourth quarter worth about $35,000. Catalyst Capital Advisors LLC bought a new position in shares of Jack Henry & Associates in the third quarter valued at approximately $48,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Jack Henry & Associates in the third quarter valued at approximately $54,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their target price on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. William Blair lowered Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Stephens reiterated an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $186.80.

Insider Activity

In other news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares in the company, valued at approximately $23,756,087.80. This trade represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

Jack Henry & Associates Stock Up 0.2 %

Shares of JKHY opened at $170.47 on Friday. The firm has a market cap of $12.44 billion, a P/E ratio of 30.77, a P/E/G ratio of 3.46 and a beta of 0.61. Jack Henry & Associates, Inc. has a 1 year low of $157.00 and a 1 year high of $189.63. The stock has a 50 day simple moving average of $174.60 and a two-hundred day simple moving average of $174.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.11 and a quick ratio of 1.11.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. On average, analysts forecast that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th will be issued a $0.58 dividend. The ex-dividend date is Thursday, March 6th. This represents a $2.32 annualized dividend and a dividend yield of 1.36%. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s payout ratio is currently 39.71%.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.