Legacy Financial Advisors Inc. Has $671,000 Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Legacy Financial Advisors Inc. cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 6.4% during the 4th quarter, Holdings Channel reports. The fund owned 3,830 shares of the technology company’s stock after selling 263 shares during the period. Legacy Financial Advisors Inc.’s holdings in Jack Henry & Associates were worth $671,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of JKHY. Vanguard Group Inc. boosted its position in shares of Jack Henry & Associates by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 8,811,373 shares of the technology company’s stock worth $1,544,634,000 after purchasing an additional 157,360 shares in the last quarter. Invesco Ltd. grew its stake in Jack Henry & Associates by 29.9% in the fourth quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock valued at $359,523,000 after acquiring an additional 471,507 shares during the period. Geode Capital Management LLC increased its holdings in shares of Jack Henry & Associates by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,990,506 shares of the technology company’s stock valued at $349,796,000 after acquiring an additional 24,709 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Jack Henry & Associates by 7.9% during the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock worth $316,326,000 after purchasing an additional 131,515 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Jack Henry & Associates by 95.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company’s stock worth $229,057,000 after purchasing an additional 643,697 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Jack Henry & Associates Stock Down 0.3 %

Shares of NASDAQ:JKHY opened at $170.14 on Friday. Jack Henry & Associates, Inc. has a 1 year low of $157.00 and a 1 year high of $196.00. The company has a market capitalization of $12.40 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 3.36 and a beta of 0.71. The business has a fifty day moving average price of $174.60 and a two-hundred day moving average price of $176.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17.

Jack Henry & Associates (NASDAQ:JKHY) last posted 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 net margin of 17.83% and a return on equity of 21.55%. Analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 6th were paid a $0.58 dividend. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 6th. This represents a $2.32 annualized dividend and a yield of 1.36%. Jack Henry & Associates’s dividend payout ratio is presently 41.88%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price target for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company initiated coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Finally, Northcoast Research downgraded Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $186.45.

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.