Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Jack Henry & Associates by 1.0% during the first quarter, owning approximately $114 million worth of shares.
• Insider activity was noted as Director David B. Foss sold 5,780 shares of the company, resulting in a 3.98% decrease in his ownership.
• Wall Street analysts have mixed sentiments on Jack Henry & Associates, with one analyst upgrading the stock to "buy" while others set target prices between $183 and $185.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 625,991 shares of the technology company's stock after purchasing an additional 6,342 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.86% of Jack Henry & Associates worth $114,306,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Axxcess Wealth Management LLC boosted its holdings in shares of Jack Henry & Associates by 2.3% during the first 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 last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Jack Henry & Associates by 2.1% during the first 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 last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Jack Henry & Associates by 9.8% during the first 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 last quarter. Smith Shellnut Wilson LLC ADV boosted its holdings in shares of Jack Henry & Associates by 1.1% during the fourth 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 last quarter. Finally, Freedom Investment Management Inc. boosted its holdings in shares of Jack Henry & Associates by 4.5% during the fourth 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 last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group decreased 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. Keefe, Bruyette & Woods cut their target price on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen raised Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $185.11.

Jack Henry & Associates Trading Down 1.9%

NASDAQ:JKHY opened at $158.52 on Tuesday. The business's 50-day moving average is $177.03 and its two-hundred day moving average is $176.04. 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 12 month low of $157.80 and a 12 month high of $196.00. The firm has a market capitalization of $11.54 billion, a PE ratio of 27.01 and a beta of 0.73.

Jack Henry & Associates Profile

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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