Citigroup Inc. Purchases 45,496 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• Citigroup Inc. increased its stake in Jack Henry & Associates by 52.3%, owning approximately 0.18% of the company, worth $24.2 million, after purchasing an additional 45,496 shares.
• Multiple institutional investors adjusted their holdings in Jack Henry & Associates, with 98.75% of the stock currently owned by hedge funds and institutional investors.
• Analysts have a consensus rating of "Hold" for Jack Henry & Associates, with target prices ranging from $183.00 to $185.00.

Citigroup Inc. increased its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 52.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,529 shares of the technology company's stock after acquiring an additional 45,496 shares during the period. Citigroup Inc. owned approximately 0.18% of Jack Henry & Associates worth $24,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of JKHY. Axxcess Wealth Management LLC lifted its position in shares of Jack Henry & Associates by 2.3% in the 1st quarter. Axxcess Wealth Management LLC now owns 2,622 shares of the technology company's stock worth $479,000 after purchasing an additional 59 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Jack Henry & Associates by 2.1% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,115 shares of the technology company's stock worth $569,000 after purchasing an additional 64 shares during the period. AdvisorNet Financial Inc lifted its position in shares of Jack Henry & Associates by 9.8% in the 1st quarter. AdvisorNet Financial Inc now owns 838 shares of the technology company's stock worth $153,000 after purchasing an additional 75 shares during the period. Smith Shellnut Wilson LLC ADV lifted its position in shares of Jack Henry & Associates by 1.1% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 7,062 shares of the technology company's stock worth $1,238,000 after purchasing an additional 77 shares during the period. Finally, Freedom Investment Management Inc. lifted its position in shares of Jack Henry & Associates by 4.5% in the 4th quarter. Freedom Investment Management Inc. now owns 1,970 shares of the technology company's stock worth $345,000 after purchasing an additional 85 shares during the period. Institutional investors own 98.75% of the company's stock.

Analyst Ratings Changes

JKHY has been the subject of several research analyst reports. Wall Street Zen raised shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group dropped their target price on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $185.11.

Jack Henry & Associates Stock Up 0.7%

NASDAQ JKHY traded up $1.14 during trading hours on Friday, reaching $160.39. 814,353 shares of the company's stock traded hands, compared to its average volume of 629,642. Jack Henry & Associates, Inc. has a 52-week low of $157.80 and a 52-week high of $196.00. The firm has a market cap of $11.68 billion, a PE ratio of 27.32, a PEG ratio of 2.96 and a beta of 0.73. The firm has a 50-day simple moving average of $175.82 and a 200 day simple moving average of $175.71. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36.

Insider Transactions at Jack Henry & Associates

In other Jack Henry & Associates news, Director David B. Foss sold 5,780 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $167.28, for a total transaction of $966,878.40. Following the completion of the sale, the director directly owned 139,265 shares in the company, valued at approximately $23,296,249.20. This trade represents a 3.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by company insiders.

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.