Russell Investments Group Ltd. Boosts Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• Russell Investments Group Ltd. increased its stake in Jack Henry & Associates by 83.0% during the first quarter, owning approximately 0.14% of the company valued at $18.7 million.
• Recent analyst ratings have been mixed, with Wall Street Zen upgrading the stock from "hold" to "buy," while UBS and Keefe, Bruyette & Woods have lowered their price targets.
• Director David B. Foss sold 5,780 shares of Jack Henry & Associates for approximately $966,878, reducing his holdings by 3.98%.

Russell Investments Group Ltd. grew its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 83.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,504 shares of the technology company's stock after acquiring an additional 46,481 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Jack Henry & Associates worth $18,700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JKHY. Axxcess Wealth Management LLC grew its position in Jack Henry & Associates by 2.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 2,622 shares of the technology company's stock worth $479,000 after purchasing an additional 59 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Jack Henry & Associates by 2.1% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,115 shares of the technology company's stock worth $569,000 after acquiring an additional 64 shares during the period. Strengthening Families & Communities LLC raised its position in Jack Henry & Associates by 12.1% during the first quarter. Strengthening Families & Communities LLC now owns 632 shares of the technology company's stock valued at $105,000 after acquiring an additional 68 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in Jack Henry & Associates by 9.8% in the first quarter. AdvisorNet Financial Inc now owns 838 shares of the technology company's stock valued at $153,000 after acquiring an additional 75 shares during the period. Finally, Smith Shellnut Wilson LLC ADV lifted its holdings in 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. Institutional investors and hedge funds own 98.75% of the company's stock.

Jack Henry & Associates Stock Up 0.7%

Shares of NASDAQ JKHY opened at $160.39 on Friday. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 2.90 and a beta of 0.73. The company's 50-day simple moving average is $175.39 and its 200-day simple moving average is $175.63. 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JKHY shares. UBS Group dropped their price objective on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen raised shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Jack Henry & Associates has a consensus rating of "Hold" and a consensus target price of $185.11.

Insider Transactions at Jack Henry & Associates

In other Jack Henry & Associates news, Director David B. Foss sold 5,780 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $167.28, for a total transaction of $966,878.40. Following the completion of the sale, the director directly owned 139,265 shares in the company, valued at approximately $23,296,249.20. The trade was a 3.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.37% of the company's stock.

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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