Jack Henry & Associates, Inc. (JKHY) Shares Sold by Retirement Systems of Alabama
Retirement Systems of Alabama reduced its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 72.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 35,568 shares of the technology company’s stock after selling 91,672 shares during the period. Retirement Systems of Alabama’s holdings in Jack Henry & Associates were worth $4,500,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Honkamp Krueger Financial Services Inc. bought a new stake in Jack Henry & Associates during the 3rd quarter worth approximately $113,000. Qube Research & Technologies Ltd bought a new stake in Jack Henry & Associates during the 2nd quarter worth approximately $108,000. Daiwa SB Investments Ltd. bought a new stake in Jack Henry & Associates during the 3rd quarter worth approximately $194,000. Harvest Fund Management Co. Ltd bought a new stake in Jack Henry & Associates during the 3rd quarter worth approximately $196,000. Finally, BDO Wealth Advisors LLC bought a new stake in Jack Henry & Associates during the 2nd quarter worth approximately $161,000. 90.03% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Mark S. Forbis sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $134.91, for a total value of $404,730.00. Following the transaction, the vice president now owns 5,038 shares in the company, valued at $679,676.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.84% of the stock is currently owned by corporate insiders.
Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, November 6th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.15. Jack Henry & Associates had a return on equity of 24.13% and a net margin of 25.29%. The firm had revenue of $392.54 million for the quarter, compared to the consensus estimate of $385.12 million. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that Jack Henry & Associates, Inc. will post 3.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 20th. Stockholders of record on Monday, December 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, November 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.15%. Jack Henry & Associates’s payout ratio is presently 41.23%.
A number of brokerages have recently weighed in on JKHY. BidaskClub downgraded Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Zacks Investment Research upgraded Jack Henry & Associates from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Finally, ValuEngine downgraded Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Jack Henry & Associates has a consensus rating of “Hold” and an average target price of $143.00.
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Jack Henry & Associates Profile
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
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