Jack Henry & Associates, Inc. (NASDAQ:JKHY) Stake Cut by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. decreased its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 211,000 shares of the technology company’s stock after selling 55,350 shares during the period. Jack Henry & Associates comprises about 1.3% of Schwartz Investment Counsel Inc.’s portfolio, making the stock its 29th largest holding. Schwartz Investment Counsel Inc. owned approximately 0.29% of Jack Henry & Associates worth $36,988,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC grew its position in shares of Jack Henry & Associates by 647.4% during the 4th quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock valued at $25,000 after buying an additional 123 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Jack Henry & Associates during the 3rd quarter worth approximately $26,000. ORG Partners LLC bought a new stake in shares of Jack Henry & Associates in the 4th quarter worth approximately $35,000. Catalyst Capital Advisors LLC acquired a new position in Jack Henry & Associates during the 3rd quarter valued at approximately $48,000. Finally, Point72 Asset Management L.P. bought a new position in Jack Henry & Associates during the 3rd quarter worth $54,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JKHY has been the subject of a number of analyst reports. William Blair lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Robert W. Baird upped their target price on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Stephens reiterated an “equal weight” rating and issued a $170.00 target price on shares of Jack Henry & Associates in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods lifted their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Jack Henry & Associates presently has a consensus rating of “Hold” and a consensus price target of $186.80.

Insider Buying and Selling

In other news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the transaction, the insider now directly owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. This trade represents a 11.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.37% of the stock is currently owned by insiders.

Jack Henry & Associates Price Performance

JKHY opened at $170.97 on Wednesday. The company’s 50 day simple moving average is $174.73 and its 200-day simple moving average is $174.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.11 and a quick ratio of 1.11. The stock has a market capitalization of $12.47 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 3.46 and a beta of 0.61. Jack Henry & Associates, Inc. has a one year low of $157.00 and a one year high of $189.63.

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

Jack Henry & Associates Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s payout ratio is 39.71%.

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.