Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by First Merchants Corp

First Merchants Corp cut its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,453 shares of the technology company’s stock after selling 503 shares during the quarter. First Merchants Corp’s holdings in Jack Henry & Associates were worth $1,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JKHY. National Pension Service acquired a new stake in Jack Henry & Associates during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in Jack Henry & Associates during the fourth quarter worth about $40,000. Cary Street Partners Financial LLC acquired a new stake in Jack Henry & Associates during the fourth quarter worth about $54,000. Tortoise Investment Management LLC increased its stake in Jack Henry & Associates by 76.9% during the fourth quarter. Tortoise Investment Management LLC now owns 329 shares of the technology company’s stock worth $58,000 after acquiring an additional 143 shares during the last quarter. Finally, Menard Financial Group LLC acquired a new stake in Jack Henry & Associates during the fourth quarter worth about $60,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Jack Henry & Associates Trading Up 0.4%

Shares of JKHY opened at $178.32 on Friday. The company has a market capitalization of $12.98 billion, a P/E ratio of 30.38, a P/E/G ratio of 3.01 and a beta of 0.73. Jack Henry & Associates, Inc. has a one year low of $158.62 and a one year high of $196.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a 50-day moving average price of $178.44 and a 200 day moving average price of $175.97.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.23. The firm had revenue of $585.09 million during the quarter, compared to the consensus estimate of $585.84 million. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. Jack Henry & Associates’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. Sell-side analysts forecast that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Thursday, May 29th. Jack Henry & Associates’s dividend payout ratio is presently 39.52%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group decreased their target price on Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Wall Street Zen raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods decreased their target price on Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating for the company in a research report on Thursday, May 8th. Northcoast Research downgraded Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research report on Monday, March 10th. Finally, The Goldman Sachs Group raised Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 target price for the company in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Jack Henry & Associates presently has a consensus rating of “Hold” and a consensus target price of $185.11.

Jack Henry & Associates Company 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.