Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada grew its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 58.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 302,092 shares of the technology company's stock after purchasing an additional 111,222 shares during the quarter. Royal Bank of Canada owned 0.41% of Jack Henry & Associates worth $52,957,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of JKHY. JPMorgan Chase & Co. increased its position in shares of Jack Henry & Associates by 7.9% during the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company's stock worth $316,326,000 after acquiring an additional 131,515 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Jack Henry & Associates by 17.2% during the fourth quarter. Park Avenue Securities LLC now owns 4,668 shares of the technology company's stock worth $818,000 after acquiring an additional 684 shares during the last quarter. Diversify Wealth Management LLC increased its position in shares of Jack Henry & Associates by 25.8% during the fourth quarter. Diversify Wealth Management LLC now owns 3,838 shares of the technology company's stock worth $660,000 after acquiring an additional 787 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of Jack Henry & Associates during the fourth quarter worth about $201,000. Finally, Phillips Wealth Planners LLC increased its position in shares of Jack Henry & Associates by 10.6% during the fourth quarter. Phillips Wealth Planners LLC now owns 1,347 shares of the technology company's stock worth $232,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on JKHY shares. Northcoast Research lowered Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research report on Monday, March 10th. The Goldman Sachs Group raised Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 target price on the stock in a research report on Wednesday, April 2nd. Wall Street Zen raised Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. UBS Group dropped their target price on 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. Finally, Keefe, Bruyette & Woods lowered their price objective on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. One investment 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 data from MarketBeat, Jack Henry & Associates has a consensus rating of "Hold" and an average price target of $184.10.

Jack Henry & Associates Stock Performance

Shares of NASDAQ:JKHY traded up $0.57 during trading on Tuesday, hitting $182.57. 184,176 shares of the company traded hands, compared to its average volume of 661,506. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 3.36 and a beta of 0.75. The business's fifty day moving average is $175.70 and its 200-day moving average is $174.93. Jack Henry & Associates, Inc. has a one year low of $157.00 and a one year high of $196.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.29 by $0.23. The company had revenue of $585.09 million during the quarter, compared to analyst estimates of $585.84 million. Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. The business's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 earnings per share. As a group, equities analysts predict that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Thursday, May 29th. Jack Henry & Associates's dividend payout ratio (DPR) is presently 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.