Novem Group Raises Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Novem Group boosted its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,332 shares of the technology company's stock after buying an additional 1,567 shares during the quarter. Novem Group's holdings in Jack Henry & Associates were worth $1,156,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in 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 period. Smith Shellnut Wilson LLC ADV boosted its position in shares of Jack Henry & Associates by 1.1% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 7,062 shares of the technology company's stock valued at $1,238,000 after acquiring an additional 77 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Jack Henry & Associates by 3.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,285 shares of the technology company's stock valued at $401,000 after acquiring an additional 79 shares during the period. Moran Wealth Management LLC boosted its position in shares of Jack Henry & Associates by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 3,871 shares of the technology company's stock valued at $679,000 after acquiring an additional 85 shares during the period. Finally, Freedom Investment Management Inc. boosted its position in shares of Jack Henry & Associates by 4.5% in the fourth quarter. Freedom Investment Management Inc. now owns 1,970 shares of the technology company's stock valued at $345,000 after acquiring an additional 85 shares during the period. Institutional investors own 98.75% of the company's stock.

Jack Henry & Associates Price Performance

Shares of JKHY stock traded up $1.99 during trading hours on Friday, hitting $181.41. 245,514 shares of the company's stock were exchanged, compared to its average volume of 571,419. The company has a market capitalization of $13.21 billion, a PE ratio of 30.90, a PEG ratio of 2.93 and a beta of 0.72. Jack Henry & Associates, Inc. has a 12-month low of $158.62 and a 12-month high of $196.00. The business's 50 day simple moving average is $179.50 and its 200-day simple moving average is $176.04. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, topping the consensus estimate 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 company had revenue of $585.09 million for the quarter, compared to the consensus estimate of $585.84 million. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, May 29th. Jack Henry & Associates's payout ratio is 39.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price objective for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price objective on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a research report on Thursday, May 8th. Wall Street Zen lowered shares of Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group cut their price objective on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Northcoast Research lowered shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Jack Henry & Associates has a consensus rating of "Hold" and an average price target of $185.11.

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.