Marks Group Wealth Management Inc Sells 12,441 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Marks Group Wealth Management Inc lowered its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 58.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,737 shares of the technology company’s stock after selling 12,441 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Jack Henry & Associates were worth $1,542,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in Jack Henry & Associates during the 2nd quarter worth about $25,000. Tortoise Investment Management LLC grew its position in shares of Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after buying an additional 71 shares during the period. New Covenant Trust Company N.A. bought a new stake in shares of Jack Henry & Associates during the first quarter worth approximately $30,000. Blue Trust Inc. lifted its holdings in Jack Henry & Associates by 148.9% in the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock valued at $39,000 after buying an additional 134 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in Jack Henry & Associates in the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of JKHY opened at $180.40 on Thursday. The firm’s 50 day moving average price is $178.97 and its two-hundred day moving average price is $170.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00. Jack Henry & Associates, Inc. has a twelve month low of $142.93 and a twelve month high of $189.63. The firm has a market cap of $13.15 billion, a P/E ratio of 34.56, a PEG ratio of 3.38 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $600.98 million for the quarter, compared to analysts’ expectations of $599.56 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 EPS. On average, analysts forecast that Jack Henry & Associates, Inc. will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is presently 42.15%.

Analyst Ratings Changes

JKHY has been the subject of several recent research reports. Compass Point initiated coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 target price for the company. Robert W. Baird increased their target price on Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Oppenheimer started coverage on Jack Henry & Associates in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $181.00 price objective on shares of Jack Henry & Associates in a research note on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Jack Henry & Associates currently has an average rating of “Hold” and a consensus target price of $185.40.

Jack Henry & Associates Company 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.