Novem Group Purchases 1,567 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Metis Global Partners LLC increased its stake in Jack Henry & Associates by 3.9% in the 4th quarter. Metis Global Partners LLC now owns 2,425 shares of the technology company's stock valued at $425,000 after buying an additional 91 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Jack Henry & Associates by 7.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,475 shares of the technology company's stock worth $259,000 after purchasing an additional 106 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Jack Henry & Associates by 19.0% in the 4th quarter. Jones Financial Companies Lllp now owns 6,577 shares of the technology company's stock worth $1,153,000 after purchasing an additional 1,052 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Jack Henry & Associates by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 619,649 shares of the technology company's stock worth $108,624,000 after purchasing an additional 8,907 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Jack Henry & Associates in the 4th quarter worth about $5,931,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on JKHY shares. Keefe, Bruyette & Woods dropped 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 report on Thursday, May 8th. UBS Group decreased their price target 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. The Goldman Sachs Group upgraded shares of 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. Northcoast Research lowered shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research note on Monday, March 10th. Finally, Wall Street Zen upgraded Jack Henry & Associates from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Jack Henry & Associates currently has a consensus rating of "Hold" and a consensus target price of $185.11.

Jack Henry & Associates Stock Performance

JKHY traded up $1.99 during trading hours on Thursday, hitting $181.41. The stock had a trading volume of 245,514 shares, compared to its average volume of 570,432. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.04. The stock has a market cap of $13.21 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. Jack Henry & Associates, Inc. has a 1 year low of $158.62 and a 1 year high of $196.00. The company's fifty day simple moving average is $179.29 and its 200 day simple moving average is $176.02.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.23. The company had revenue of $585.09 million for the quarter, compared to analysts' expectations 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 was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. Equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

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

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.