Bridges Investment Management Inc. raised its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 82.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,720 shares of the technology company's stock after acquiring an additional 3,041 shares during the quarter. Bridges Investment Management Inc.'s holdings in Jack Henry & Associates were worth $1,227,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Atala Financial Inc bought a new position in Jack Henry & Associates during the fourth quarter valued at $40,000. Cary Street Partners Financial LLC purchased a new stake in Jack Henry & Associates in the 4th quarter worth about $54,000. Tortoise Investment Management LLC raised its stake in Jack Henry & Associates by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 329 shares of the technology company's stock valued at $58,000 after acquiring an additional 143 shares during the period. Menard Financial Group LLC purchased a new stake in Jack Henry & Associates during the fourth quarter valued at about $60,000. Finally, Brown Brothers Harriman & Co. boosted its position in Jack Henry & Associates by 603.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the technology company's stock worth $64,000 after purchasing an additional 314 shares during the period. 98.75% of the stock is owned by institutional investors.
Jack Henry & Associates Price Performance
Shares of JKHY traded down $4.37 during trading hours on Friday, reaching $175.19. 439,436 shares of the company's stock traded hands, compared to its average volume of 570,607. Jack Henry & Associates, Inc. has a 12 month low of $160.23 and a 12 month high of $196.00. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04. The stock has a market cap of $12.76 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The firm's 50 day simple moving average is $180.10 and its 200-day simple moving average is $176.13.
Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.23. The business had revenue of $585.09 million during the quarter, compared to analyst estimates of $585.84 million. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. Jack Henry & Associates's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.19 earnings per share. Equities analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.
Jack Henry & Associates Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a yield of 1.32%. Jack Henry & Associates's payout ratio is 39.52%.
Analyst Ratings Changes
A number of brokerages recently commented on JKHY. Wall Street Zen cut shares of Jack Henry & Associates from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. The Goldman Sachs Group upgraded Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price target for the company in a research report on Wednesday, April 2nd. UBS Group dropped their price objective on 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, Keefe, Bruyette & Woods reduced their target price on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $185.11.
Read Our Latest Analysis on JKHY
About Jack Henry & Associates
(
Free Report)
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.
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