FORA Capital LLC Sells 3,808 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

FORA Capital LLC decreased its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 58.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,726 shares of the technology company’s stock after selling 3,808 shares during the period. FORA Capital LLC’s holdings in Jack Henry & Associates were worth $481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its position in Jack Henry & Associates by 1.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company’s stock worth $657,158,000 after purchasing an additional 67,386 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Jack Henry & Associates by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company’s stock worth $175,342,000 after buying an additional 23,617 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Jack Henry & Associates by 8.4% during the third quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company’s stock valued at $152,495,000 after acquiring an additional 66,600 shares during the period. Raymond James & Associates raised its holdings in Jack Henry & Associates by 3.2% in the 3rd quarter. Raymond James & Associates now owns 631,974 shares of the technology company’s stock valued at $111,569,000 after acquiring an additional 19,846 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Jack Henry & Associates by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 610,742 shares of the technology company’s stock worth $107,820,000 after acquiring an additional 2,324 shares during the period. Institutional investors own 98.75% of the company’s stock.

Insider Activity

In other news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. This trade represents a 11.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on JKHY. William Blair cut Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group increased their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada upped their target price on shares of 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, Stephens restated an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $188.73.

Jack Henry & Associates Stock Performance

Jack Henry & Associates stock opened at $173.96 on Friday. The stock has a 50-day simple moving average of $179.02 and a 200 day simple moving average of $171.39. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 31.86, a P/E/G ratio of 3.28 and a beta of 0.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a 12-month low of $153.23 and a 12-month high of $189.63.

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

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be paid 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 1.26%. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 40.29%.

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.