ING Groep NV Reduces Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

ING Groep NV trimmed its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 59.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,675 shares of the technology company’s stock after selling 5,342 shares during the quarter. ING Groep NV’s holdings in Jack Henry & Associates were worth $649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JKHY. Zions Bancorporation N.A. increased its position in shares of Jack Henry & Associates by 17.1% in the third quarter. Zions Bancorporation N.A. now owns 8,668 shares of the technology company’s stock valued at $1,530,000 after acquiring an additional 1,265 shares during the period. Huntington National Bank increased its holdings in Jack Henry & Associates by 20.9% during the 3rd quarter. Huntington National Bank now owns 451 shares of the technology company’s stock valued at $80,000 after purchasing an additional 78 shares during the period. Victory Capital Management Inc. raised its position in Jack Henry & Associates by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 70,850 shares of the technology company’s stock valued at $12,508,000 after purchasing an additional 3,314 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Jack Henry & Associates in the 3rd quarter worth approximately $1,017,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Jack Henry & Associates by 5.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 172,675 shares of the technology company’s stock worth $30,484,000 after buying an additional 9,537 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Jack Henry & Associates Trading Up 0.4 %

NASDAQ JKHY opened at $173.21 on Monday. Jack Henry & Associates, Inc. has a 12 month low of $151.05 and a 12 month high of $189.63. The company has a current ratio of 1.11, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $179.46 and its 200-day moving average price is $170.99. The stock has a market cap of $12.64 billion, a P/E ratio of 31.72, a P/E/G ratio of 3.26 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last announced 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 company had revenue of $600.98 million for 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%. Jack Henry & Associates’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 EPS. As a group, equities analysts forecast that Jack Henry & Associates, Inc. will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be issued a $0.55 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.27%. Jack Henry & Associates’s payout ratio is currently 40.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on JKHY shares. Stephens reaffirmed an “equal weight” rating and issued a $170.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. UBS Group raised their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, Oppenheimer started coverage on Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $188.73.

About Jack Henry & Associates

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.