Royal Bank of Canada Trims Holdings in Jack Henry & Associates, Inc. $JKHY

Royal Bank of Canada trimmed its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 20.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 184,190 shares of the technology company’s stock after selling 47,731 shares during the quarter. Royal Bank of Canada owned 0.26% of Jack Henry & Associates worth $29,109,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in Jack Henry & Associates by 2.4% during the 3rd quarter. State Street Corp now owns 4,103,290 shares of the technology company’s stock valued at $611,103,000 after buying an additional 97,140 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Jack Henry & Associates by 9.5% in the third quarter. Invesco Ltd. now owns 1,800,777 shares of the technology company’s stock worth $268,190,000 after buying an additional 155,616 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Jack Henry & Associates by 4.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,415,221 shares of the technology company’s stock valued at $258,250,000 after acquiring an additional 66,633 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Jack Henry & Associates by 160.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,350,393 shares of the technology company’s stock valued at $246,420,000 after acquiring an additional 831,372 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Jack Henry & Associates by 4.0% during the fourth quarter. Mackenzie Financial Corp now owns 973,760 shares of the technology company’s stock valued at $179,354,000 after acquiring an additional 37,814 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Trading Up 0.1%

Shares of Jack Henry & Associates stock opened at $156.63 on Wednesday. Jack Henry & Associates, Inc. has a 1 year low of $121.04 and a 1 year high of $193.39. The firm has a market cap of $11.13 billion, a PE ratio of 21.91, a PEG ratio of 2.20 and a beta of 0.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. The company has a 50 day simple moving average of $140.66 and a two-hundred day simple moving average of $153.51.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.28. The firm had revenue of $615.93 million for the quarter, compared to analyst estimates of $619.67 million. Jack Henry & Associates had a net margin of 20.64% and a return on equity of 24.03%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. Analysts expect that Jack Henry & Associates, Inc. will post 6.84 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Monday, June 1st were given a $0.61 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.44 annualized dividend and a yield of 1.6%. Jack Henry & Associates’s payout ratio is 34.13%.

Insider Buying and Selling at Jack Henry & Associates

In other news, CEO Gregory R. Adelson bought 2,000 shares of Jack Henry & Associates stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $133.42 per share, with a total value of $266,840.00. Following the completion of the purchase, the chief executive officer directly owned 21,036 shares in the company, valued at $2,806,623.12. The trade was a 10.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mimi Carsley purchased 375 shares of the stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $134.12 per share, for a total transaction of $50,295.00. Following the transaction, the chief financial officer directly owned 6,007 shares of the company’s stock, valued at approximately $805,658.84. This represents a 6.66% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wolfe Research set a $165.00 target price on shares of Jack Henry & Associates in a report on Monday, June 29th. The Goldman Sachs Group cut their price target on shares of Jack Henry & Associates from $180.00 to $161.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. DA Davidson restated a “buy” rating and set a $198.00 price target on shares of Jack Henry & Associates in a research report on Monday, May 11th. Morgan Stanley set a $170.00 price target on shares of Jack Henry & Associates in a report on Friday, May 8th. Finally, Royal Bank Of Canada lowered their price objective on Jack Henry & Associates from $180.00 to $173.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.07.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company’s core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.