Synovus Financial Corp Buys 2,299 Shares of Jack Henry & Associates, Inc. $JKHY

Key Points

• Synovus Financial Corp increased its holdings in Jack Henry & Associates by 14.2%, now owning 18,494 shares valued at approximately $3.38 million.
• The company reported $1.75 earnings per share for the latest quarter, surpassing analyst expectations of $1.50, with revenue of $615.37 million.
• Jack Henry & Associates has declared a quarterly dividend of $0.58, reflecting an annualized basis of $2.32 and a yield of 1.4%.

Synovus Financial Corp boosted its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 14.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,494 shares of the technology company's stock after purchasing an additional 2,299 shares during the quarter. Synovus Financial Corp's holdings in Jack Henry & Associates were worth $3,377,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of Jack Henry & Associates during the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. acquired a new position in shares of Jack Henry & Associates during the 1st quarter worth $38,000. Assetmark Inc. raised its holdings in shares of Jack Henry & Associates by 147.5% during the 1st quarter. Assetmark Inc. now owns 250 shares of the technology company's stock worth $46,000 after buying an additional 149 shares in the last quarter. National Pension Service raised its holdings in shares of Jack Henry & Associates by 75.2% during the 1st quarter. National Pension Service now owns 268 shares of the technology company's stock worth $49,000 after buying an additional 115 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Jack Henry & Associates during the 4th quarter worth $54,000. 98.75% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 completion of the transaction, the director directly owned 139,265 shares in the company, valued at $23,296,249.20. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is owned by company insiders.

Jack Henry & Associates Stock Up 0.3%

Jack Henry & Associates stock traded up $0.44 during trading hours on Friday, hitting $163.26. The stock had a trading volume of 692,777 shares, compared to its average volume of 643,682. The stock has a market cap of $11.90 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 2.92 and a beta of 0.73. Jack Henry & Associates, Inc. has a one year low of $157.80 and a one year high of $196.00. The business's 50 day simple moving average is $172.21 and its 200-day simple moving average is $174.92.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.25. Jack Henry & Associates had a return on equity of 22.60% and a net margin of 19.19%.The company had revenue of $615.37 million during the quarter, compared to the consensus estimate of $602.20 million. During the same period last year, the company earned $1.33 earnings per share. The firm's revenue was up 9.9% compared to the same quarter last year. Jack Henry & Associates has set its FY 2026 guidance at EPS. Research analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 5th. Jack Henry & Associates's dividend payout ratio (DPR) is 37.18%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JKHY. Royal Bank Of Canada lowered their price target on Jack Henry & Associates from $203.00 to $185.00 and set a "sector perform" rating for the company in a report on Thursday, August 21st. Wall Street Zen raised Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. DA Davidson set a $204.00 target price on Jack Henry & Associates in a report on Friday, August 22nd. UBS Group dropped their target price on Jack Henry & Associates from $185.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. Finally, Keefe, Bruyette & Woods dropped their target price on Jack Henry & Associates from $183.00 to $178.00 and set a "market perform" rating for the company in a research report on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Jack Henry & Associates presently has an average rating of "Hold" and an average target price of $182.70.

Jack Henry & Associates Company 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.