Jack Henry & Associates, Inc. $JKHY Shares Acquired by Van ECK Associates Corp

Key Points

• Van ECK Associates Corp dramatically increased its Jack Henry & Associates position by 1,918.2% in the second quarter, acquiring 1.24 million additional shares. It ended the quarter with 1.31 million shares, valued at approximately $180.2 million.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $193.40. Wolfe Research and RBC recently raised their targets to $215 and $178, respectively.
• Jack Henry exceeded quarterly earnings expectations, reporting $1.57 EPS and $633.1 million in revenue, while revenue grew 4.6% year over year. The company also declared a quarterly dividend of $0.61 per share, representing a 1.4% annualized yield.

Van ECK Associates Corp increased its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 1,918.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,308,353 shares of the technology company's stock after purchasing an additional 1,243,526 shares during the period. Van ECK Associates Corp owned 1.84% of Jack Henry & Associates worth $180,213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in JKHY. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Jack Henry & Associates by 6,728.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 621,546 shares of the technology company's stock worth $113,420,000 after purchasing an additional 612,444 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its position in Jack Henry & Associates by 231.1% in the 1st quarter. Dai ichi Life Insurance Company Ltd now owns 21,102 shares of the technology company's stock worth $3,335,000 after buying an additional 14,728 shares during the last quarter. Swedbank AB lifted its position in Jack Henry & Associates by 230.2% in the 4th quarter. Swedbank AB now owns 143,787 shares of the technology company's stock worth $26,238,000 after buying an additional 100,239 shares during the last quarter. Amica Mutual Insurance Co. boosted its stake in Jack Henry & Associates by 60.4% in the fourth quarter. Amica Mutual Insurance Co. now owns 48,570 shares of the technology company's stock worth $8,863,000 after buying an additional 18,283 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Jack Henry & Associates in the first quarter worth approximately $3,569,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JKHY has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on shares of Jack Henry & Associates from $158.00 to $178.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Wolfe Research boosted their price target on shares of Jack Henry & Associates from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Tuesday. Royal Bank Of Canada upped their price target on shares of Jack Henry & Associates from $173.00 to $178.00 and gave the company an "outperform" rating in a research report on Thursday, August 20th. Morgan Stanley set a $170.00 price objective on Jack Henry & Associates in a research note on Friday, May 8th. Finally, Weiss Ratings raised Jack Henry & Associates from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $193.40.

Jack Henry & Associates Stock Up 0.1%

Shares of NASDAQ JKHY opened at $169.73 on Friday. The firm's fifty day moving average is $151.46 and its 200 day moving average is $151.05. Jack Henry & Associates, Inc. has a 52 week low of $121.04 and a 52 week high of $193.39. The company has a quick ratio of 1.74, a current ratio of 1.38 and a debt-to-equity ratio of 0.02. The company has a market cap of $12.06 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 1.91 and a beta of 0.55.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.13. The business had revenue of $633.10 million during the quarter, compared to analysts' expectations of $631.60 million. Jack Henry & Associates had a net margin of 19.76% and a return on equity of 23.49%. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 EPS. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. On average, equities research analysts expect that Jack Henry & Associates, Inc. will post 7.38 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Monday, September 7th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 4th. Jack Henry & Associates's dividend payout ratio is currently 35.01%.

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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