Capital Group Private Client Services Inc. Cuts Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Capital Group Private Client Services Inc. cut its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 167,559 shares of the technology company’s stock after selling 3,359 shares during the period. Capital Group Private Client Services Inc.’s holdings in Jack Henry & Associates were worth $29,373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JKHY. Raymond James Financial Inc. bought a new stake in shares of Jack Henry & Associates in the fourth quarter worth approximately $132,817,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake 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 buying an additional 643,697 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Jack Henry & Associates by 29.9% in the fourth quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock worth $359,523,000 after acquiring an additional 471,507 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Jack Henry & Associates by 406.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 348,447 shares of the technology company’s stock valued at $61,083,000 after acquiring an additional 279,628 shares during the last quarter. Finally, Norges Bank purchased a new position in Jack Henry & Associates in the fourth quarter worth about $48,834,000. Institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Jack Henry & Associates Trading Down 0.0 %

Shares of Jack Henry & Associates stock opened at $171.83 on Friday. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month high of $196.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $174.53 and a 200-day moving average price of $176.18. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 3.36 and a beta of 0.71.

Jack Henry & Associates (NASDAQ:JKHY) last released 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 return on equity of 21.55% and a net margin of 17.83%. Equities research analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th were issued a $0.58 dividend. The ex-dividend date was Thursday, March 6th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.35%. Jack Henry & Associates’s payout ratio is 41.88%.

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.