MetLife Investment Management LLC Has $3.35 Million Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

MetLife Investment Management LLC cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 18,947 shares of the technology company’s stock after selling 489 shares during the quarter. MetLife Investment Management LLC’s holdings in Jack Henry & Associates were worth $3,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Blueshift Asset Management LLC acquired a new position in shares of Jack Henry & Associates in the 3rd quarter worth approximately $319,000. Glenmede Trust Co. NA increased its holdings in Jack Henry & Associates by 5.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,188 shares of the technology company’s stock valued at $563,000 after purchasing an additional 174 shares in the last quarter. Bridgewater Associates LP increased its holdings in Jack Henry & Associates by 9.9% during the 3rd quarter. Bridgewater Associates LP now owns 20,170 shares of the technology company’s stock valued at $3,561,000 after purchasing an additional 1,816 shares in the last quarter. Townsquare Capital LLC increased its holdings in Jack Henry & Associates by 0.7% during the 3rd quarter. Townsquare Capital LLC now owns 9,601 shares of the technology company’s stock valued at $1,695,000 after purchasing an additional 67 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Jack Henry & Associates by 49.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 219,985 shares of the technology company’s stock valued at $38,836,000 after purchasing an additional 72,760 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Stock Down 0.2 %

NASDAQ:JKHY opened at $175.33 on Wednesday. Jack Henry & Associates, Inc. has a 12-month low of $157.00 and a 12-month high of $189.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $12.79 billion, a P/E ratio of 32.11, a P/E/G ratio of 3.31 and a beta of 0.61. The stock’s fifty day simple moving average is $179.12 and its 200-day simple moving average is $171.61.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The business had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same period last year, the company earned $1.39 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 annualized dividend and a dividend yield of 1.25%. Jack Henry & Associates’s dividend payout ratio is currently 40.29%.

Analysts Set New Price Targets

JKHY has been the subject of a number of recent analyst reports. UBS Group raised their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com cut Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their target price on 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. Finally, William Blair cut Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $188.73.

Insiders Place Their Bets

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the transaction, the insider now directly owns 138,665 shares in the company, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.37% of the company’s stock.

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.