State of Alaska Department of Revenue Sells 6,450 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

State of Alaska Department of Revenue lowered its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 19.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,205 shares of the technology company’s stock after selling 6,450 shares during the quarter. State of Alaska Department of Revenue’s holdings in Jack Henry & Associates were worth $4,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its holdings in Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after buying an additional 71 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in Jack Henry & Associates during the first quarter valued at $30,000. Blue Trust Inc. increased its holdings in Jack Henry & Associates by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock valued at $39,000 after acquiring an additional 134 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Jack Henry & Associates in the 2nd quarter worth $63,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Jack Henry & Associates during the 3rd quarter valued at about $68,000. Institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Price Performance

JKHY stock opened at $182.66 on Wednesday. The stock has a market cap of $13.32 billion, a PE ratio of 35.26, a P/E/G ratio of 3.36 and a beta of 0.64. Jack Henry & Associates, Inc. has a 12 month low of $137.17 and a 12 month high of $186.93. The company has a 50-day moving average price of $176.82 and a 200 day moving average price of $169.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, August 20th. The technology company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The firm had revenue of $559.91 million for the quarter, compared to analysts’ expectations of $563.37 million. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Equities research analysts anticipate that Jack Henry & Associates, Inc. will post 5.82 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.20 annualized dividend and a dividend yield of 1.20%. Jack Henry & Associates’s dividend payout ratio (DPR) is 42.47%.

Analysts Set New Price Targets

JKHY has been the topic of a number of research analyst reports. StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price objective on Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, August 22nd. Robert W. Baird increased their target price on Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Compass Point initiated coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price target on the stock. Finally, Oppenheimer began coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $187.11.

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.