Cognios Beta Neutral Large Cap Fund LP Reduces Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Cognios Beta Neutral Large Cap Fund LP lowered its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,323 shares of the technology company’s stock after selling 450 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in Jack Henry & Associates were worth $543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of JKHY. Assenagon Asset Management S.A. raised its position in Jack Henry & Associates by 1,587.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 347,018 shares of the technology company’s stock valued at $56,706,000 after purchasing an additional 326,448 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Jack Henry & Associates by 21.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,043,098 shares of the technology company’s stock valued at $157,654,000 after purchasing an additional 181,811 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Jack Henry & Associates by 34.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 689,400 shares of the technology company’s stock worth $104,196,000 after buying an additional 177,200 shares during the last quarter. Invesco Ltd. grew its stake in Jack Henry & Associates by 15.3% during the 3rd quarter. Invesco Ltd. now owns 1,106,851 shares of the technology company’s stock worth $167,289,000 after buying an additional 147,143 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Jack Henry & Associates by 66.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 356,819 shares of the technology company’s stock worth $58,308,000 after buying an additional 142,878 shares during the last quarter. 98.75% of the stock is owned by institutional investors.

Jack Henry & Associates Price Performance

Shares of Jack Henry & Associates stock traded down $1.28 during mid-day trading on Wednesday, reaching $165.20. 350,938 shares of the stock traded hands, compared to its average volume of 428,437. The business has a 50-day moving average of $171.02 and a 200 day moving average of $162.98. Jack Henry & Associates, Inc. has a fifty-two week low of $136.57 and a fifty-two week high of $178.37. The stock has a market capitalization of $12.04 billion, a PE ratio of 32.33, a PEG ratio of 3.86 and a beta of 0.66. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.15.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. The business had revenue of $545.70 million during the quarter, compared to analysts’ expectations of $540.34 million. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that Jack Henry & Associates, Inc. will post 5.11 EPS for the current year.

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. Jack Henry & Associates’s dividend payout ratio is presently 43.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JKHY. Citigroup began coverage on Jack Henry & Associates in a research note on Thursday, January 18th. They set a “neutral” rating and a $177.00 target price on the stock. StockNews.com downgraded Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird boosted their price target on Jack Henry & Associates from $180.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Royal Bank of Canada boosted their price target on Jack Henry & Associates from $161.00 to $181.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Finally, TheStreet upgraded Jack Henry & Associates from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $172.42.

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.