Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,479 shares of the technology company’s stock after selling 587 shares during the quarter. New York Life Investment Management LLC’s holdings in Jack Henry & Associates were worth $3,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. National Pension Service acquired a new stake in shares of Jack Henry & Associates in the fourth quarter valued at $27,000. Illinois Municipal Retirement Fund boosted its holdings in Jack Henry & Associates by 4.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 41,908 shares of the technology company’s stock valued at $7,346,000 after purchasing an additional 1,930 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Jack Henry & Associates by 12.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 13,419 shares of the technology company’s stock valued at $2,352,000 after purchasing an additional 1,538 shares during the period. Bank of New York Mellon Corp boosted its holdings in Jack Henry & Associates by 11.1% in the fourth quarter. Bank of New York Mellon Corp now owns 706,048 shares of the technology company’s stock valued at $123,770,000 after purchasing an additional 70,540 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Jack Henry & Associates in the fourth quarter valued at $3,040,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. Wells Fargo & Company assumed coverage on Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 target price for the company. Royal Bank of Canada lifted their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $186.80.

Jack Henry & Associates Stock Up 1.0 %

JKHY opened at $173.59 on Friday. The business’s 50-day simple moving average is $172.99 and its 200-day simple moving average is $175.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. Jack Henry & Associates, Inc. has a one year low of $157.00 and a one year high of $189.63. The stock has a market capitalization of $12.65 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 3.36 and a beta of 0.61.

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

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s payout ratio is 41.88%.

Jack Henry & Associates 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.