Mackay Shields LLC Cuts Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Mackay Shields LLC lowered its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,985 shares of the technology company’s stock after selling 58 shares during the quarter. Mackay Shields LLC’s holdings in Jack Henry & Associates were worth $1,861,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in JKHY. Norges Bank purchased a new position in Jack Henry & Associates during the 4th quarter worth $102,551,000. Victory Capital Management Inc. raised its position in Jack Henry & Associates by 394.5% during the 1st quarter. Victory Capital Management Inc. now owns 462,399 shares of the technology company’s stock worth $71,783,000 after buying an additional 368,890 shares during the last quarter. Rathbone Brothers plc purchased a new position in Jack Henry & Associates during the 1st quarter worth $31,979,000. Thrivent Financial for Lutherans increased its holdings in shares of Jack Henry & Associates by 5,804.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 205,308 shares of the technology company’s stock valued at $29,907,000 after purchasing an additional 201,831 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Jack Henry & Associates by 2,830.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 208,510 shares of the technology company’s stock valued at $32,371,000 after purchasing an additional 201,395 shares in the last quarter. Institutional investors own 88.59% of the company’s stock.

In other Jack Henry & Associates news, VP Steven W. Tomson sold 3,698 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $175.17, for a total transaction of $647,778.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.85% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on JKHY. Robert W. Baird increased their price target on shares of Jack Henry & Associates from $164.00 to $176.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Zacks Investment Research upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating and set a $193.00 price target for the company in a report on Friday, May 8th. DA Davidson increased their price target on shares of Jack Henry & Associates from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wells Fargo & Co downgraded shares of Jack Henry & Associates from an “overweight” rating to an “equal weight” rating in a report on Sunday, April 19th. Finally, Raymond James upgraded shares of Jack Henry & Associates from a “market perform” rating to an “outperform” rating and set a $181.00 price target for the company in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Jack Henry & Associates currently has a consensus rating of “Hold” and an average target price of $169.14.

Shares of NASDAQ JKHY opened at $186.92 on Monday. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 48.55, a PEG ratio of 3.85 and a beta of 0.59. Jack Henry & Associates, Inc. has a 52 week low of $123.64 and a 52 week high of $195.03. The company’s 50-day moving average price is $169.90 and its 200 day moving average price is $156.71. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Monday, May 4th. The technology company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.16. The firm had revenue of $429.41 million for the quarter, compared to analysts’ expectations of $408.79 million. Jack Henry & Associates had a net margin of 17.64% and a return on equity of 20.07%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. As a group, research analysts expect that Jack Henry & Associates, Inc. will post 4.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 28th will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.72 annualized dividend and a dividend yield of 0.92%. Jack Henry & Associates’s dividend payout ratio is currently 48.86%.

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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