Commerce Bank Lowers Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Commerce Bank lessened its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,079 shares of the technology company’s stock after selling 1,553 shares during the period. Commerce Bank’s holdings in Jack Henry & Associates were worth $5,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC acquired a new stake in shares of Jack Henry & Associates in the second quarter worth approximately $25,000. Tortoise Investment Management LLC increased its holdings in Jack Henry & Associates by 76.3% in the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after buying an additional 71 shares during the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of Jack Henry & Associates during the first quarter worth about $30,000. Blue Trust Inc. raised its stake in Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock valued at $39,000 after acquiring an additional 134 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Jack Henry & Associates during the third quarter worth $48,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Trading Up 0.7 %

Shares of NASDAQ JKHY opened at $172.37 on Friday. The company has a market cap of $12.58 billion, a PE ratio of 31.57, a P/E/G ratio of 3.23 and a beta of 0.63. Jack Henry & Associates, Inc. has a 1-year low of $151.93 and a 1-year high of $189.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $179.34 and a two-hundred day moving average of $171.17.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results 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 firm had revenue of $600.98 million during the quarter, compared to the consensus estimate of $599.56 million. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. As a group, equities analysts expect that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio is 40.29%.

Insider Transactions at Jack Henry & Associates

In other news, insider David B. Foss sold 18,770 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the sale, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. This represents a 11.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

JKHY has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. William Blair cut Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Oppenheimer initiated coverage on shares of Jack Henry & Associates in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price target on the stock. StockNews.com upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, UBS Group upped their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $188.73.

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.