Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Purchased by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. increased its stake in Jack Henry & Associates by 16.8%, acquiring an additional 21,777 shares, bringing its total holdings to 151,291 shares valued at approximately $27.6 million.
• Jack Henry & Associates' stock currently has an average rating of "Hold" from analysts and a target price of $185.11, with UBS and Keefe, Bruyette & Woods recently lowering their price targets.
• Insider activity was noted as Director David B. Foss sold 5,780 shares for about $966,878, reducing his ownership stake in the company.

Benjamin Edwards Inc. grew its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 16.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,291 shares of the technology company's stock after purchasing an additional 21,777 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.21% of Jack Henry & Associates worth $27,626,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. purchased a new stake in shares of Jack Henry & Associates during the first quarter valued at about $38,000. Assetmark Inc. lifted its position in shares of Jack Henry & Associates by 147.5% during the first quarter. Assetmark Inc. now owns 250 shares of the technology company's stock valued at $46,000 after buying an additional 149 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Jack Henry & Associates during the fourth quarter valued at about $54,000. Menard Financial Group LLC purchased a new stake in shares of Jack Henry & Associates during the fourth quarter valued at about $60,000. Finally, Global X Japan Co. Ltd. purchased a new stake in shares of Jack Henry & Associates during the first quarter valued at about $70,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David B. Foss sold 5,780 shares of Jack Henry & Associates stock in a transaction on Monday, August 4th. The stock was sold at an average price of $167.28, for a total transaction of $966,878.40. Following the transaction, the director owned 139,265 shares in the company, valued at $23,296,249.20. The trade was a 3.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.37% of the company's stock.

Jack Henry & Associates Stock Performance

Shares of NASDAQ JKHY traded down $3.04 during midday trading on Monday, reaching $158.52. 1,114,464 shares of the stock were exchanged, compared to its average volume of 531,970. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 27.01 and a beta of 0.73. Jack Henry & Associates, Inc. has a twelve month low of $157.80 and a twelve month high of $196.00. The firm has a 50-day simple moving average of $177.03 and a two-hundred day simple moving average of $176.04. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.04.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JKHY shares. Keefe, Bruyette & Woods cut their price objective on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. UBS Group cut their price objective on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Jack Henry & Associates currently has a consensus rating of "Hold" and a consensus price target of $185.11.

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.