M&T Bank Corp Reduces Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

M&T Bank Corp lessened its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,372 shares of the technology company’s stock after selling 276 shares during the quarter. M&T Bank Corp’s holdings in Jack Henry & Associates were worth $2,185,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Jack Henry & Associates by 1.7% in the 3rd quarter. State Street Corp now owns 3,976,658 shares of the technology company’s stock valued at $702,039,000 after acquiring an additional 67,716 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Jack Henry & Associates by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company’s stock valued at $657,158,000 after purchasing an additional 67,386 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Jack Henry & Associates by 2.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company’s stock worth $175,342,000 after purchasing an additional 23,617 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Jack Henry & Associates by 8.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company’s stock valued at $152,495,000 after buying an additional 66,600 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Jack Henry & Associates by 3.2% in the 3rd quarter. Raymond James & Associates now owns 631,974 shares of the technology company’s stock valued at $111,569,000 after buying an additional 19,846 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider David B. Foss sold 18,770 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 138,665 shares in the company, valued at $23,756,087.80. This represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on JKHY shares. StockNews.com lowered Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Compass Point assumed coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price objective on the stock. Stephens reaffirmed an “equal weight” rating and set a $170.00 target price on shares of Jack Henry & Associates in a report on Wednesday, November 6th. Robert W. Baird increased their price target on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Oppenheimer began coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $189.00.

Jack Henry & Associates Stock Down 0.4 %

JKHY stock opened at $179.80 on Friday. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week high of $189.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $178.88 and a 200-day simple moving average of $172.04. The stock has a market capitalization of $13.12 billion, a P/E ratio of 32.93, a P/E/G ratio of 3.37 and a beta of 0.61.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.61 by $0.02. The company had revenue of $600.98 million during the quarter, compared to analyst estimates of $599.56 million. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. Jack Henry & Associates’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. Equities analysts forecast that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.22%. Jack Henry & Associates’s payout ratio is currently 40.29%.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.