Texas Permanent School Fund Corp Decreases Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Texas Permanent School Fund Corp cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 20.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,055 shares of the technology company’s stock after selling 3,008 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Jack Henry & Associates were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of JKHY. Raymond James Trust N.A. lifted its holdings in Jack Henry & Associates by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 4,804 shares of the technology company’s stock worth $798,000 after buying an additional 60 shares during the period. Taylor Frigon Capital Management LLC raised its holdings in shares of Jack Henry & Associates by 0.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 7,558 shares of the technology company’s stock valued at $1,313,000 after acquiring an additional 62 shares in the last quarter. Czech National Bank lifted its stake in Jack Henry & Associates by 0.5% in the first quarter. Czech National Bank now owns 12,821 shares of the technology company’s stock worth $2,227,000 after acquiring an additional 65 shares during the period. Advisor OS LLC boosted its holdings in Jack Henry & Associates by 1.0% in the second quarter. Advisor OS LLC now owns 6,624 shares of the technology company’s stock valued at $1,100,000 after acquiring an additional 65 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its position 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 purchasing an additional 71 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on JKHY. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Evercore ISI lifted their price objective on Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $181.00 target price on shares of Jack Henry & Associates in a report on Friday, September 6th. Keefe, Bruyette & Woods raised their target price on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, August 22nd. Finally, Compass Point assumed coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Jack Henry & Associates has an average rating of “Hold” and an average price target of $177.25.

Jack Henry & Associates Trading Down 0.8 %

NASDAQ JKHY opened at $175.69 on Wednesday. Jack Henry & Associates, Inc. has a 12 month low of $136.57 and a 12 month high of $178.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $169.06 and its 200-day moving average price is $167.76. The stock has a market cap of $12.81 billion, a P/E ratio of 33.92, a P/E/G ratio of 3.09 and a beta of 0.64.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.30 by $0.08. The company had revenue of $559.91 million for the quarter, compared to the consensus estimate of $563.37 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. During the same period in the prior year, the firm posted $1.34 EPS. As a group, equities analysts forecast that Jack Henry & Associates, Inc. will post 5.79 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is currently 42.47%.

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.