Jack Henry & Associates, Inc. $JKHY Shares Bought by Martin Capital Partners LLC

Key Points

• Martin Capital Partners increased its Jack Henry & Associates stake by 684% in the second quarter, ending with 40,855 shares valued at approximately $5.6 million. Institutional investors and hedge funds collectively own 98.75% of the company.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $186.07, above its reported trading price of $156.63.
• Jack Henry reported quarterly earnings of $1.71 per share, beating estimates of $1.43, while revenue rose 8.7% year over year to $615.93 million. The company also pays a quarterly dividend of $0.61, equivalent to a 1.6% annual yield.

Martin Capital Partners LLC raised its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 684.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,855 shares of the technology company's stock after purchasing an additional 35,644 shares during the quarter. Jack Henry & Associates accounts for 2.1% of Martin Capital Partners LLC's portfolio, making the stock its 21st largest position. Martin Capital Partners LLC owned approximately 0.06% of Jack Henry & Associates worth $5,627,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of JKHY. Glenmede Trust Co. NA raised its stake in shares of Jack Henry & Associates by 51.0% in the first quarter. Glenmede Trust Co. NA now owns 5,326 shares of the technology company's stock worth $842,000 after purchasing an additional 1,799 shares during the last quarter. Summitry LLC boosted its position in Jack Henry & Associates by 4.8% in the first quarter. Summitry LLC now owns 4,135 shares of the technology company's stock valued at $653,000 after buying an additional 191 shares during the last quarter. Essential Partners LLC increased its holdings in Jack Henry & Associates by 65.8% in the 1st quarter. Essential Partners LLC now owns 184 shares of the technology company's stock worth $29,000 after buying an additional 73 shares during the period. Janus Henderson Group PLC increased its holdings in Jack Henry & Associates by 13,343.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company's stock worth $170,430,000 after buying an additional 1,070,376 shares during the period. Finally, Amundi raised its position in Jack Henry & Associates by 80.5% during the 1st quarter. Amundi now owns 626,837 shares of the technology company's stock worth $99,065,000 after buying an additional 279,466 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wolfe Research set a $165.00 price objective on shares of Jack Henry & Associates in a research note on Monday, June 29th. Royal Bank Of Canada reduced their target price on shares of Jack Henry & Associates from $180.00 to $173.00 and set an "outperform" rating for the company in a report on Thursday, June 18th. UBS Group set a $165.00 target price on shares of Jack Henry & Associates in a research report on Thursday, May 7th. Barclays initiated coverage on Jack Henry & Associates in a research report on Tuesday, July 7th. They set an "overweight" rating and a $170.00 price target on the stock. Finally, DA Davidson reiterated a "buy" rating and set a $198.00 price objective on shares of Jack Henry & Associates in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Jack Henry & Associates presently has an average rating of "Moderate Buy" and an average price target of $186.07.

Jack Henry & Associates Trading Up 0.1%

Jack Henry & Associates stock opened at $156.63 on Wednesday. The firm has a market cap of $11.13 billion, a PE ratio of 21.91, a P/E/G ratio of 2.20 and a beta of 0.55. Jack Henry & Associates, Inc. has a 12 month low of $121.04 and a 12 month high of $193.39. The stock's 50 day simple moving average is $140.66 and its two-hundred day simple moving average is $153.51. 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 (NASDAQ:JKHY - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.28. Jack Henry & Associates had a net margin of 20.64% and a return on equity of 24.03%. The firm had revenue of $615.93 million during the quarter, compared to analyst estimates of $619.67 million. During the same period in the previous year, the firm earned $1.52 EPS. The business's quarterly revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Jack Henry & Associates, Inc. will post 6.84 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Monday, June 1st were issued a $0.61 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.44 dividend on an annualized basis and a yield of 1.6%. Jack Henry & Associates's payout ratio is presently 34.13%.

Insider Transactions at Jack Henry & Associates

In other Jack Henry & Associates news, CFO Mimi Carsley bought 375 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $134.12 per share, for a total transaction of $50,295.00. Following the transaction, the chief financial officer directly owned 6,007 shares of the company's stock, valued at approximately $805,658.84. The trade was a 6.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory R. Adelson purchased 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $133.42 per share, with a total value of $266,840.00. Following the purchase, the chief executive officer owned 21,036 shares in the company, valued at $2,806,623.12. This represents a 10.51% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.60% of the company's stock.

About Jack Henry & Associates

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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