Assenagon Asset Management S.A. Buys Shares of 14,125 Jack Henry & Associates, Inc. $JKHY

Key Points

• Assenagon Asset Management established a new position in Jack Henry & Associates, purchasing 14,125 shares valued at approximately $1.95 million. Institutional investors collectively own 98.75% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $185.71, despite several firms recently lowering their targets.
• Jack Henry shares opened at $155.86, up 2.3%, with an $11.07 billion market capitalization and a 52-week trading range of $121.04 to $193.39.

Assenagon Asset Management S.A. purchased a new position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 14,125 shares of the technology company's stock, valued at approximately $1,946,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its stake in Jack Henry & Associates by 21.2% during the first quarter. Integrated Wealth Concepts LLC now owns 2,102 shares of the technology company's stock valued at $384,000 after purchasing an additional 367 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Jack Henry & Associates by 8.8% in the 1st quarter. Empowered Funds LLC now owns 7,184 shares of the technology company's stock worth $1,312,000 after acquiring an additional 584 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Jack Henry & Associates by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,159 shares of the technology company's stock worth $1,125,000 after acquiring an additional 1,778 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Jack Henry & Associates during the first quarter worth $9,430,000. Finally, Focus Partners Wealth raised its position in shares of Jack Henry & Associates by 15.1% during the first quarter. Focus Partners Wealth now owns 1,387 shares of the technology company's stock worth $253,000 after purchasing an additional 182 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley set a $170.00 target price on Jack Henry & Associates in a report on Friday, May 8th. The Goldman Sachs Group dropped their price target on Jack Henry & Associates from $180.00 to $161.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Jack Henry & Associates from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. Royal Bank Of Canada reduced their price objective on shares of Jack Henry & Associates from $180.00 to $173.00 and set an "outperform" rating for the company in a research note on Thursday, June 18th. Finally, Wolfe Research set a $165.00 target price on shares of Jack Henry & Associates in a research report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $185.71.

Jack Henry & Associates Trading Up 2.3%

Shares of NASDAQ JKHY opened at $155.86 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. Jack Henry & Associates, Inc. has a one year low of $121.04 and a one year high of $193.39. The business has a 50-day moving average price of $143.37 and a two-hundred day moving average price of $151.85. The firm has a market capitalization of $11.07 billion, a PE ratio of 21.80, a PEG ratio of 2.14 and a beta of 0.55.

Jack Henry & Associates 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.

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