Park Avenue Securities LLC Trims Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Park Avenue Securities LLC cut its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 21.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,294 shares of the technology company’s stock after selling 1,166 shares during the quarter. Park Avenue Securities LLC’s holdings in Jack Henry & Associates were worth $746,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Planned Solutions Inc. acquired a new stake in Jack Henry & Associates during the fourth quarter valued at approximately $33,000. Anchor Investment Management LLC bought a new position in Jack Henry & Associates during the fourth quarter worth $35,000. VisionPoint Advisory Group LLC acquired a new position in Jack Henry & Associates in the fourth quarter worth $44,000. Federated Hermes Inc. bought a new stake in Jack Henry & Associates during the third quarter valued at $72,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Jack Henry & Associates during the fourth quarter worth $79,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Stock Down 0.2 %

NASDAQ JKHY opened at $166.72 on Friday. The company has a market capitalization of $12.15 billion, a P/E ratio of 32.19, a PEG ratio of 4.30 and a beta of 0.62. Jack Henry & Associates, Inc. has a 12 month low of $136.57 and a 12 month high of $178.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.39 and a quick ratio of 1.39. The company’s 50 day simple moving average is $165.24 and its 200 day simple moving average is $167.76.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.02. The company had revenue of $538.56 million during the quarter, compared to the consensus estimate of $541.80 million. Jack Henry & Associates had a return on equity of 22.18% and a net margin of 17.28%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 EPS. Equities research analysts expect that Jack Henry & Associates, Inc. will post 5.19 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, May 28th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Friday, May 24th. Jack Henry & Associates’s payout ratio is 42.47%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wolfe Research started coverage on shares of Jack Henry & Associates in a report on Thursday, March 7th. They issued a “peer perform” rating for the company. DA Davidson reaffirmed a “buy” rating and set a $198.00 target price on shares of Jack Henry & Associates in a report on Tuesday, April 30th. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a report on Wednesday, May 8th. Robert W. Baird upped their price objective on Jack Henry & Associates from $180.00 to $186.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, StockNews.com lowered Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $174.67.

Jack Henry & Associates Profile

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.