Boston Financial Mangement LLC Sells 307 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Boston Financial Mangement LLC cut its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,658 shares of the technology company’s stock after selling 307 shares during the quarter. Boston Financial Mangement LLC’s holdings in Jack Henry & Associates were worth $1,342,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JKHY. Nordea Investment Management AB grew its holdings in shares of Jack Henry & Associates by 50.8% during the fourth quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock worth $136,720,000 after buying an additional 263,021 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Jack Henry & Associates by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after purchasing an additional 131,515 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Jack Henry & Associates by 2,032.2% in the third quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock valued at $22,540,000 after purchasing an additional 121,667 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Jack Henry & Associates by 80.0% in the third quarter. Assenagon Asset Management S.A. now owns 207,757 shares of the technology company’s stock valued at $36,677,000 after purchasing an additional 92,359 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Jack Henry & Associates by 49.4% in the third quarter. BNP Paribas Financial Markets now owns 219,985 shares of the technology company’s stock valued at $38,836,000 after purchasing an additional 72,760 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JKHY shares. William Blair restated an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday. Royal Bank of Canada raised their price target on Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Wells Fargo & Company started coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price target for the company. Stephens restated an “equal weight” rating and issued a $170.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods lifted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Jack Henry & Associates presently has a consensus rating of “Hold” and a consensus price target of $186.80.

Jack Henry & Associates Stock Performance

NASDAQ:JKHY opened at $168.70 on Friday. The stock has a market cap of $12.30 billion, a P/E ratio of 30.45, a PEG ratio of 3.34 and a beta of 0.61. The stock has a 50 day simple moving average of $173.58 and a 200 day simple moving average of $174.74. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a 1-year low of $157.00 and a 1-year high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. Research analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 6th will be issued a dividend of $0.58 per share. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. This represents a $2.32 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, March 6th. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 39.71%.

About Jack Henry & Associates

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.