Procyon Advisors LLC Buys New Shares in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Procyon Advisors LLC purchased a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,590 shares of the technology company's stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Jack Henry & Associates by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company's stock worth $316,326,000 after buying an additional 131,515 shares during the period. Yousif Capital Management LLC raised its stake in shares of Jack Henry & Associates by 44.4% in the fourth quarter. Yousif Capital Management LLC now owns 13,775 shares of the technology company's stock valued at $2,415,000 after acquiring an additional 4,238 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Jack Henry & Associates by 29.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,501 shares of the technology company's stock valued at $1,326,000 after buying an additional 1,718 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Jack Henry & Associates in the fourth quarter valued at $2,643,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Jack Henry & Associates by 4.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 180,198 shares of the technology company's stock valued at $31,589,000 after buying an additional 7,523 shares during the last quarter. 98.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JKHY has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Monday, May 12th. UBS Group reduced their target price on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group raised 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 report on Wednesday, April 2nd. Northcoast Research cut shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research report on Monday, March 10th. Finally, Keefe, Bruyette & Woods decreased their price objective 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Jack Henry & Associates presently has an average rating of "Hold" and an average target price of $184.10.

Jack Henry & Associates Stock Down 0.3%

NASDAQ:JKHY traded down $0.45 during trading hours on Tuesday, reaching $179.51. 692,501 shares of the stock were exchanged, compared to its average volume of 571,533. The stock has a market cap of $13.07 billion, a PE ratio of 32.40, a PEG ratio of 3.36 and a beta of 0.73. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month high of $196.00. The firm has a 50 day moving average of $176.26 and a 200 day moving average of $175.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced 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 17.83% and a return on equity of 21.55%. The business had revenue of $585.09 million during the quarter, compared to analysts' expectations of $585.84 million. During the same quarter in the prior year, the company posted $1.19 earnings per share. The firm's revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, May 29th. Jack Henry & Associates's payout ratio 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.