Ritholtz Wealth Management Cuts Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Ritholtz Wealth Management cut its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,483 shares of the technology company’s stock after selling 418 shares during the quarter. Ritholtz Wealth Management’s holdings in Jack Henry & Associates were worth $412,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. New Covenant Trust Company N.A. purchased a new position in Jack Henry & Associates in the 1st quarter worth $30,000. Blue Trust Inc. increased its holdings in shares of Jack Henry & Associates by 148.9% in the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after buying an additional 134 shares during the period. VisionPoint Advisory Group LLC bought a new stake in shares of Jack Henry & Associates in the 4th quarter valued at about $44,000. Riverview Trust Co purchased a new stake in Jack Henry & Associates during the 1st quarter valued at about $51,000. Finally, International Assets Investment Management LLC bought a new position in Jack Henry & Associates during the 2nd quarter worth approximately $63,000. 98.75% of the stock is currently owned by institutional investors.

Jack Henry & Associates Price Performance

JKHY opened at $174.09 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.39 and a debt-to-equity ratio of 0.03. The company has a market cap of $12.69 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 3.07 and a beta of 0.63. The stock has a fifty day simple moving average of $167.10 and a two-hundred day simple moving average of $167.72. Jack Henry & Associates, Inc. has a 12-month low of $136.57 and a 12-month high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.08. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. The company had revenue of $559.91 million during the quarter, compared to analyst estimates of $563.37 million. During the same period last year, the business earned $1.34 EPS. Research analysts predict that Jack Henry & Associates, Inc. will post 5.79 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.20 annualized dividend and a dividend yield of 1.26%. Jack Henry & Associates’s payout ratio is 42.47%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JKHY. Compass Point started coverage on Jack Henry & Associates in a research note on Wednesday. They set a “neutral” rating and a $186.00 price objective for the company. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research note on Wednesday, May 8th. Evercore ISI raised their target price on Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, Keefe, Bruyette & Woods upped their price target on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $177.25.

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.