PNC Financial Services Group Inc. Sells 152 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

PNC Financial Services Group Inc. trimmed its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,643 shares of the technology company’s stock after selling 152 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Jack Henry & Associates were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its position in Jack Henry & Associates by 1.7% during the 3rd quarter. State Street Corp now owns 3,976,658 shares of the technology company’s stock valued at $702,039,000 after purchasing an additional 67,716 shares during the last quarter. JPMorgan Chase & Co. grew its position in Jack Henry & Associates by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after purchasing an additional 131,515 shares during the last quarter. Handelsbanken Fonder AB grew its position in Jack Henry & Associates by 7.1% during the 4th quarter. Handelsbanken Fonder AB now owns 925,400 shares of the technology company’s stock valued at $162,223,000 after purchasing an additional 61,600 shares during the last quarter. Nordea Investment Management AB grew its position in Jack Henry & Associates by 50.8% during the 4th quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock valued at $136,720,000 after purchasing an additional 263,021 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Jack Henry & Associates during the 4th quarter valued at about $132,817,000. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JKHY has been the topic of several recent analyst reports. StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company started coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price target on the stock. Northcoast Research downgraded shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a report on Monday, March 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $186.80.

Jack Henry & Associates Stock Performance

JKHY opened at $175.83 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 3.36 and a beta of 0.65. The company’s 50 day moving average is $173.83 and its 200 day moving average is $176.08. Jack Henry & Associates, Inc. has a 12-month low of $157.00 and a 12-month high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. On average, equities research analysts predict that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.58 per share. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a yield of 1.32%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 41.88%.

Jack Henry & Associates Company 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.