Envestnet Asset Management Inc. Reduces Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Envestnet Asset Management Inc. cut its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 583,128 shares of the technology company’s stock after selling 33,373 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Jack Henry & Associates were worth $102,222,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its stake 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 purchased a new position in Jack Henry & Associates during the third quarter valued at approximately $26,000. National Pension Service acquired a new position in Jack Henry & Associates in the fourth quarter valued at approximately $27,000. ORG Partners LLC purchased a new stake in Jack Henry & Associates in the 4th quarter worth approximately $35,000. Finally, Atala Financial Inc acquired a new stake in shares of Jack Henry & Associates during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock opened at $163.54 on Wednesday. The company has a fifty day simple moving average of $174.84 and a 200-day simple moving average of $176.34. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 3.36 and a beta of 0.71. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. On average, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.58 per share. The ex-dividend date was Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a yield of 1.42%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s payout ratio is 41.88%.

Wall Street Analysts Forecast Growth

JKHY has been the topic of a number of recent analyst reports. Wells Fargo & Company assumed coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price target on the stock. The Goldman Sachs Group upgraded Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 target price on the stock in a research report on Wednesday, April 2nd. William Blair restated an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Finally, Northcoast Research downgraded Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $186.45.

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.