NewEdge Wealth LLC Trims Stake in Jack Henry & Associates, Inc. $JKHY

NewEdge Wealth LLC lowered its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 12.8% during the first quarter, Holdings Channel reports. The fund owned 35,105 shares of the technology company’s stock after selling 5,163 shares during the quarter. NewEdge Wealth LLC’s holdings in Jack Henry & Associates were worth $5,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JKHY. First Trust Advisors LP grew its holdings in Jack Henry & Associates by 33.8% in the 1st quarter. First Trust Advisors LP now owns 734,298 shares of the technology company’s stock valued at $116,048,000 after buying an additional 185,465 shares during the period. ABN Amro Investment Solutions increased its position in shares of Jack Henry & Associates by 8.5% in the first quarter. ABN Amro Investment Solutions now owns 2,111 shares of the technology company’s stock worth $334,000 after acquiring an additional 165 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Jack Henry & Associates by 19.6% in the first quarter. PNC Financial Services Group Inc. now owns 13,619 shares of the technology company’s stock valued at $2,152,000 after purchasing an additional 2,232 shares during the period. Andra AP fonden raised its holdings in shares of Jack Henry & Associates by 2.4% during the 1st quarter. Andra AP fonden now owns 41,900 shares of the technology company’s stock valued at $6,622,000 after buying an additional 1,000 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in shares of Jack Henry & Associates by 208.5% during the first quarter. Meeder Asset Management Inc. now owns 115,842 shares of the technology company’s stock worth $18,308,000 after purchasing an additional 78,298 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on JKHY shares. Weiss Ratings downgraded shares of Jack Henry & Associates from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. UBS Group set a $165.00 price objective on shares of Jack Henry & Associates in a report on Thursday, May 7th. The Goldman Sachs Group cut their price objective on shares of Jack Henry & Associates from $180.00 to $161.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. DA Davidson restated a “buy” rating and issued a $198.00 target price on shares of Jack Henry & Associates in a research report on Monday, May 11th. Finally, Loop Capital started coverage on shares of Jack Henry & Associates in a research note on Tuesday, March 31st. They issued a “buy” rating and a $197.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $186.07.

Insider Activity

In other news, CFO Mimi Carsley acquired 375 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $134.12 per share, for a total transaction of $50,295.00. Following the completion of the acquisition, the chief financial officer owned 6,007 shares of the company’s stock, valued at approximately $805,658.84. This represents a 6.66% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory R. Adelson purchased 2,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $133.42 per share, for a total transaction of $266,840.00. Following the acquisition, the chief executive officer directly owned 21,036 shares in the company, valued at $2,806,623.12. This represents a 10.51% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of NASDAQ JKHY opened at $148.23 on Friday. The stock’s fifty day simple moving average is $138.06 and its 200 day simple moving average is $155.33. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 2.05 and a beta of 0.57. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Jack Henry & Associates, Inc. has a 52-week low of $121.04 and a 52-week high of $193.39.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.28. The business had revenue of $615.93 million for the quarter, compared to analyst estimates of $619.67 million. Jack Henry & Associates had a net margin of 20.64% and a return on equity of 24.03%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 earnings per share. Jack Henry & Associates has set its FY 2026 guidance at 6.780-6.870 EPS. As a group, sell-side analysts forecast that Jack Henry & Associates, Inc. will post 6.84 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Monday, June 1st were paid a $0.61 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.44 dividend on an annualized basis and a yield of 1.6%. Jack Henry & Associates’s payout ratio is 34.13%.

Jack Henry & Associates Profile

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company’s core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.