Wells Fargo & Company MN Sells 16,513 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Wells Fargo & Company MN trimmed its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,336,759 shares of the technology company’s stock after selling 16,513 shares during the quarter. Wells Fargo & Company MN owned approximately 1.83% of Jack Henry & Associates worth $234,334,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC increased its holdings in Jack Henry & Associates by 647.4% in the 4th quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock worth $25,000 after acquiring an additional 123 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Jack Henry & Associates in the third quarter worth about $26,000. National Pension Service bought a new stake in shares of Jack Henry & Associates in the fourth quarter valued at approximately $27,000. ORG Partners LLC purchased a new stake in shares of Jack Henry & Associates during the 4th quarter valued at approximately $35,000. Finally, Atala Financial Inc bought a new position in Jack Henry & Associates in the 4th quarter worth approximately $40,000. 98.75% of the stock is owned by institutional investors.

Jack Henry & Associates Stock Down 6.5 %

Shares of NASDAQ:JKHY opened at $172.62 on Friday. The stock’s 50-day moving average is $175.42 and its 200 day moving average is $176.53. The company has a market cap of $12.58 billion, a PE ratio of 31.16, a P/E/G ratio of 3.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17. Jack Henry & Associates, Inc. has a 1 year low of $157.00 and a 1 year high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. Sell-side analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were issued a $0.58 dividend. The ex-dividend date was Thursday, March 6th. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. This represents a $2.32 annualized dividend and a yield of 1.34%. Jack Henry & Associates’s dividend payout ratio is 41.88%.

Analyst Ratings Changes

JKHY has been the topic of several recent research reports. The Goldman Sachs Group upgraded Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 target price on the stock in a research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. Northcoast Research downgraded shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company started coverage on shares of Jack Henry & Associates in a research note on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $186.45.

Jack Henry & Associates Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.