Hartford Investment Management Co. Trims Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Hartford Investment Management Co. reduced its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,456 shares of the technology company’s stock after selling 87 shares during the quarter. Hartford Investment Management Co.’s holdings in Jack Henry & Associates were worth $781,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Jack Henry & Associates by 7.9% in the third quarter. CWM LLC now owns 1,803 shares of the technology company’s stock worth $318,000 after purchasing an additional 132 shares during the period. Exchange Traded Concepts LLC bought a new position in Jack Henry & Associates in the 3rd quarter worth about $68,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Jack Henry & Associates in the 3rd quarter valued at about $205,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Jack Henry & Associates by 19.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,498 shares of the technology company’s stock valued at $1,500,000 after acquiring an additional 1,395 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of Jack Henry & Associates by 3.6% during the third quarter. V Square Quantitative Management LLC now owns 1,567 shares of the technology company’s stock worth $277,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Down 2.3 %

Shares of Jack Henry & Associates stock opened at $166.47 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.11 and a current ratio of 3.11. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $189.63. The company’s 50 day moving average price is $174.41 and its 200-day moving average price is $174.85. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 3.46 and a beta of 0.61.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. Equities research analysts forecast that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Increases Dividend

The firm 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 is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a yield of 1.39%. Jack Henry & Associates’s dividend payout ratio is presently 39.71%.

Insiders Place Their Bets

In related news, insider David B. Foss sold 18,770 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the transaction, the insider now owns 138,665 shares in the company, valued at $23,756,087.80. This represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

JKHY has been the topic of a number of recent analyst reports. UBS Group raised their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Royal Bank of Canada raised their price target on Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Wells Fargo & Company started coverage on Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on 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 research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Jack Henry & Associates currently has an average rating of “Hold” and a consensus price target of $186.80.

Jack Henry & Associates Profile

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.