Oppenheimer Asset Management Inc. Reduces Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Oppenheimer Asset Management Inc. lowered its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 7.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,631 shares of the technology company’s stock after selling 702 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Jack Henry & Associates were worth $1,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of JKHY. National Pension Service bought a new position in Jack Henry & Associates during the 4th quarter valued at about $27,000. Illinois Municipal Retirement Fund boosted its position in shares of Jack Henry & Associates by 4.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 41,908 shares of the technology company’s stock valued at $7,346,000 after buying an additional 1,930 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Jack Henry & Associates by 12.9% during 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 buying an additional 1,538 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 worth $123,770,000 after buying an additional 70,540 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Jack Henry & Associates during the 4th quarter worth approximately $3,040,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of NASDAQ:JKHY opened at $178.00 on Tuesday. The firm has a 50 day moving average of $173.03 and a 200 day moving average of $175.27. 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 company has a market capitalization of $12.98 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 3.36 and a beta of 0.61. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week 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 EPS 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%. On average, sell-side analysts predict that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.30%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, March 6th. Jack Henry & Associates’s dividend payout ratio is presently 41.88%.

Wall Street Analysts Forecast Growth

JKHY has been the topic of several research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Wells Fargo & Company began coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price objective for the company. UBS Group upped their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research 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 given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $186.80.

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.