VELA Investment Management LLC Acquires 28,474 Shares of Jack Henry & Associates, Inc. $JKHY

Key Points

• VELA Investment Management increased its Jack Henry & Associates stake by 77.4% in the second quarter, adding 28,474 shares for a total of 65,260 shares valued at approximately $8.99 million.
• Institutional ownership remains substantial at 98.75%, while analysts maintain a “Moderate Buy” consensus with an average price target of $193.40.
• Jack Henry beat quarterly earnings expectations, reporting $1.57 EPS and $633.1 million in revenue, and declared a quarterly dividend of $0.61 per share, representing a 1.5% annualized yield.

VELA Investment Management LLC grew its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 77.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,260 shares of the technology company's stock after buying an additional 28,474 shares during the period. Jack Henry & Associates accounts for about 1.9% of VELA Investment Management LLC's holdings, making the stock its 7th largest holding. VELA Investment Management LLC owned about 0.09% of Jack Henry & Associates worth $8,989,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JKHY. California State Teachers Retirement System increased its stake in Jack Henry & Associates by 6,596.8% in the second quarter. California State Teachers Retirement System now owns 11,513,411 shares of the technology company's stock valued at $1,585,857,000 after purchasing an additional 11,341,486 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Jack Henry & Associates by 1,918.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,308,353 shares of the technology company's stock worth $180,213,000 after buying an additional 1,243,526 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Jack Henry & Associates by 13,343.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company's stock worth $170,430,000 after buying an additional 1,070,376 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Jack Henry & Associates by 160.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,350,393 shares of the technology company's stock valued at $246,420,000 after buying an additional 831,372 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Jack Henry & Associates in the 4th quarter valued at $128,744,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on JKHY. The Goldman Sachs Group lifted their price target on shares of Jack Henry & Associates from $158.00 to $178.00 and gave the stock a "neutral" rating in a research note on Thursday, August 20th. Oppenheimer upped their price objective on shares of Jack Henry & Associates from $208.00 to $209.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. Barclays raised their price objective on Jack Henry & Associates from $170.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. Wolfe Research boosted their target price on Jack Henry & Associates from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. Finally, UBS Group upped their target price on Jack Henry & Associates from $165.00 to $170.00 and gave the company a "neutral" rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $193.40.

Jack Henry & Associates Price Performance

JKHY opened at $165.64 on Monday. The business has a 50 day moving average price of $155.39 and a two-hundred day moving average price of $151.12. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.02. The company has a market cap of $11.61 billion, a PE ratio of 23.76, a P/E/G ratio of 1.87 and a beta of 0.56. Jack Henry & Associates, Inc. has a 52 week low of $121.04 and a 52 week high of $193.39.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its earnings results on Tuesday, August 18th. The technology company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.13. The company had revenue of $633.10 million for the quarter, compared to the consensus estimate of $631.60 million. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.The company's revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $1.75 EPS. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. As a group, research analysts anticipate that Jack Henry & Associates, Inc. will post 7.37 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Monday, September 7th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, September 4th. Jack Henry & Associates's dividend payout ratio (DPR) is 35.01%.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company's core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.

Want to see what other hedge funds are holding JKHY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source