Jack Henry & Associates (NASDAQ:JKHY) Shares Down 6.4% – Here’s What Happened

Jack Henry & Associates, Inc. (NASDAQ:JKHY)’s share price dropped 6.4% during mid-day trading on Tuesday . The stock traded as low as $178.22 and last traded at $178.03. Approximately 811,667 shares were traded during trading, an increase of 25% from the average daily volume of 646,914 shares. The stock had previously closed at $190.15.

Wall Street Analysts Forecast Growth

JKHY has been the subject of a number of research reports. Northcoast Research cut shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday. StockNews.com lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company began coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price target for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Jack Henry & Associates presently has an average rating of “Hold” and an average target price of $186.80.

Jack Henry & Associates Stock Performance

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $173.78 and a 200 day moving average price of $176.00. The stock has a market cap of $12.78 billion, a PE ratio of 31.65, a P/E/G ratio of 3.36 and a beta of 0.65.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly 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 return on equity of 21.55% and a net margin of 17.83%. Analysts expect that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

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

Hedge Funds Weigh In On Jack Henry & Associates

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Smith Shellnut Wilson LLC ADV grew its stake in shares of Jack Henry & Associates by 1.1% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 7,062 shares of the technology company’s stock worth $1,238,000 after acquiring an additional 77 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in Jack Henry & Associates by 569.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 8,041 shares of the technology company’s stock worth $1,410,000 after purchasing an additional 6,839 shares during the last quarter. Menard Financial Group LLC bought a new stake in Jack Henry & Associates in the 4th quarter worth approximately $60,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Jack Henry & Associates in the 4th quarter worth approximately $4,974,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Jack Henry & Associates during the 4th quarter valued at $2,032,000. Institutional investors own 98.75% of the company’s stock.

About Jack Henry & Associates

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.