Commerce Bank Lowers Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Commerce Bank lowered its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 5.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 29,079 shares of the technology company’s stock after selling 1,553 shares during the period. Commerce Bank’s holdings in Jack Henry & Associates were worth $5,134,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Jack Henry & Associates by 188.4% during the second quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock valued at $46,819,000 after buying an additional 184,210 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Jack Henry & Associates by 51.4% during the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after buying an additional 171,041 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Jack Henry & Associates by 6,680.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after acquiring an additional 113,696 shares in the last quarter. Tandem Investment Advisors Inc. increased its position in Jack Henry & Associates by 20.4% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock valued at $83,496,000 after purchasing an additional 85,175 shares during the period. Finally, SG Americas Securities LLC grew its stake in Jack Henry & Associates by 207.3% in the second quarter. SG Americas Securities LLC now owns 122,075 shares of the technology company’s stock valued at $20,267,000 after purchasing an additional 82,351 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Activity

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group upped their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. William Blair cut shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price target on Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Finally, Compass Point started coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $188.73.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY opened at $172.37 on Friday. Jack Henry & Associates, Inc. has a 12-month low of $151.93 and a 12-month high of $189.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. The company has a market cap of $12.58 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 3.23 and a beta of 0.63. The company’s fifty day moving average is $179.34 and its two-hundred day moving average is $171.17.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The company had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same quarter in the prior year, the business posted $1.39 EPS. Jack Henry & Associates’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts expect that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 annualized dividend and a dividend yield of 1.28%. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 40.29%.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.