Mackenzie Financial Corp Cuts Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Mackenzie Financial Corp trimmed its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,161 shares of the technology company’s stock after selling 28,487 shares during the quarter. Mackenzie Financial Corp owned approximately 0.45% of Jack Henry & Associates worth $53,952,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Jack Henry & Associates by 1.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,742,546 shares of the technology company’s stock worth $565,648,000 after purchasing an additional 46,534 shares during the last quarter. State Street Corp raised its holdings in Jack Henry & Associates by 3.3% in the 1st quarter. State Street Corp now owns 3,204,604 shares of the technology company’s stock valued at $482,998,000 after buying an additional 101,262 shares during the period. JPMorgan Chase & Co. raised its holdings in Jack Henry & Associates by 19.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,900,968 shares of the technology company’s stock valued at $286,513,000 after buying an additional 304,400 shares during the period. Geode Capital Management LLC raised its holdings in Jack Henry & Associates by 0.7% in the 1st quarter. Geode Capital Management LLC now owns 1,713,380 shares of the technology company’s stock valued at $257,816,000 after buying an additional 11,665 shares during the period. Finally, Morgan Stanley raised its holdings in Jack Henry & Associates by 117.1% in the 4th quarter. Morgan Stanley now owns 1,709,702 shares of the technology company’s stock valued at $300,155,000 after buying an additional 922,054 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JKHY has been the topic of a number of recent research reports. TheStreet upgraded shares of Jack Henry & Associates from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Citigroup initiated coverage on shares of Jack Henry & Associates in a research note on Thursday, January 18th. They set a “neutral” rating and a $177.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research note on Wednesday, February 7th. Evercore ISI upped their target price on shares of Jack Henry & Associates from $157.00 to $172.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Finally, Wolfe Research started coverage on shares of Jack Henry & Associates in a research note on Thursday, March 7th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.58.

Jack Henry & Associates Trading Down 0.8 %

NASDAQ:JKHY opened at $163.75 on Wednesday. The stock has a fifty day moving average price of $171.85 and a two-hundred day moving average price of $162.30. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 3.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37. Jack Henry & Associates, Inc. has a 1 year low of $136.57 and a 1 year high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.12. The firm had revenue of $545.70 million during the quarter, compared to analysts’ expectations of $540.34 million. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. Jack Henry & Associates’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 earnings per share. As a group, sell-side analysts anticipate that Jack Henry & Associates, Inc. will post 5.11 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were given a $0.55 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 43.05%.

Jack Henry & Associates Profile

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.