Resona Asset Management Co. Ltd. Boosts Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Jack Henry & Associates by 6.5%, owning a total of 30,295 shares valued at approximately $5.5 million.
• In addition to Resona, several major investors, including Mitsubishi UFJ and Handelsbanken Fonder, have also boosted their holdings in Jack Henry & Associates, highlighting strong institutional interest in the stock.
• Jack Henry & Associates currently has a consensus rating of "Hold"** with an average price target of $185.11, according to various Wall Street analysts.

Resona Asset Management Co. Ltd. boosted its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,295 shares of the technology company's stock after buying an additional 1,859 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Jack Henry & Associates were worth $5,518,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Jack Henry & Associates by 3.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,367,002 shares of the technology company's stock valued at $249,615,000 after buying an additional 48,311 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Jack Henry & Associates by 8.9% in the first quarter. Handelsbanken Fonder AB now owns 1,007,500 shares of the technology company's stock valued at $183,970,000 after buying an additional 82,100 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Jack Henry & Associates by 22.9% in the fourth quarter. Mackenzie Financial Corp now owns 835,244 shares of the technology company's stock valued at $146,418,000 after buying an additional 155,831 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Jack Henry & Associates by 9.9% during the fourth quarter. Northern Trust Corp now owns 788,861 shares of the technology company's stock worth $138,287,000 after purchasing an additional 71,304 shares during the last quarter. Finally, Tandem Investment Advisors Inc. grew its holdings in shares of Jack Henry & Associates by 14.5% during the first quarter. Tandem Investment Advisors Inc. now owns 649,236 shares of the technology company's stock worth $118,550,000 after purchasing an additional 82,414 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $160.39 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.04. Jack Henry & Associates, Inc. has a 52-week low of $157.80 and a 52-week high of $196.00. The business's 50-day moving average price is $175.39 and its 200 day moving average price is $175.61. The firm has a market cap of $11.68 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.88 and a beta of 0.73.

Insider Activity

In related news, Director David B. Foss sold 5,780 shares of the firm's 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 transaction, the director owned 139,265 shares of the company's stock, valued at $23,296,249.20. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JKHY. Wall Street Zen raised Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. UBS Group dropped 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. Finally, Keefe, Bruyette & Woods dropped their price objective on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently 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.

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