Jack Henry & Associates, Inc. (NASDAQ:JKHY) Position Boosted by Davis R M Inc.

Key Points

• Davis R M Inc. increased its stake in Jack Henry & Associates by 3.3%, owning 80,649 shares now valued at approximately $14.7 million.
• Jack Henry & Associates reported a quarterly EPS of $1.52, exceeding estimates, with an 8.6% year-over-year revenue growth.
• The company recently announced a quarterly dividend of $0.58 per share, reflecting an annualized yield of 1.34% and a payout ratio of 39.52%.

Davis R M Inc. boosted its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,649 shares of the technology company's stock after purchasing an additional 2,614 shares during the quarter. Davis R M Inc. owned about 0.11% of Jack Henry & Associates worth $14,727,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of JKHY. Cullen Frost Bankers Inc. purchased a new stake in Jack Henry & Associates during the first quarter worth approximately $38,000. Assetmark Inc. grew its stake in Jack Henry & Associates by 147.5% during the first quarter. Assetmark Inc. now owns 250 shares of the technology company's stock worth $46,000 after buying an additional 149 shares during the period. Cary Street Partners Financial LLC purchased a new stake in Jack Henry & Associates during the fourth quarter worth approximately $54,000. Menard Financial Group LLC purchased a new stake in Jack Henry & Associates during the fourth quarter worth approximately $60,000. Finally, Brown Brothers Harriman & Co. grew its stake 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 buying an additional 314 shares during the period. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JKHY. Keefe, Bruyette & Woods decreased 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 note on Thursday, May 8th. UBS Group decreased 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 note on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a research note on Saturday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $185.11.

Jack Henry & Associates Stock Performance

Shares of JKHY stock traded down $2.54 during trading hours on Friday, reaching $167.28. The stock had a trading volume of 627,091 shares, compared to its average volume of 418,314. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36. Jack Henry & Associates, Inc. has a twelve month low of $160.23 and a twelve month high of $196.00. The firm has a 50-day simple moving average of $179.07 and a 200-day simple moving average of $176.37. The firm has a market capitalization of $12.18 billion, a PE ratio of 28.50 and a beta of 0.74.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.23. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The business had revenue of $585.09 million for the quarter, compared to analysts' expectations of $585.84 million. During the same quarter last year, the company earned $1.19 EPS. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, May 29th. Jack Henry & Associates's dividend payout ratio (DPR) is 39.52%.

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.