Vestmark Advisory Solutions Inc. Raises Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• Vestmark Advisory Solutions Inc. has significantly increased its stake in Jack Henry & Associates, Inc. by 138.0%, owning 75,374 shares valued at approximately $13.8 million as of the latest filing with the SEC.
• Despite the recent institutional interest, analysts have mixed views on the stock, with UBS and Keefe, Bruyette & Woods downgrading their price targets while Wall Street Zen upgraded it to a "buy" rating.
• Insider activity includes Director David B. Foss selling 5,780 shares for nearly $967,000, which represents a 3.98% decrease in his ownership of the company.

Vestmark Advisory Solutions Inc. grew its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 138.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,374 shares of the technology company's stock after purchasing an additional 43,698 shares during the quarter. Vestmark Advisory Solutions Inc. owned approximately 0.10% of Jack Henry & Associates worth $13,763,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Jack Henry & Associates by 3.9% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 34,366 shares of the technology company's stock valued at $6,275,000 after purchasing an additional 1,300 shares during the period. Financial Network Wealth Advisors LLC raised its holdings in shares of Jack Henry & Associates by 40.8% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 335 shares of the technology company's stock valued at $61,000 after acquiring an additional 97 shares in the last quarter. National Pension Service raised its holdings in shares of Jack Henry & Associates by 75.2% in the 1st quarter. National Pension Service now owns 268 shares of the technology company's stock valued at $49,000 after acquiring an additional 115 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Jack Henry & Associates in the 1st quarter valued at about $123,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Jack Henry & Associates by 83.0% in the 1st quarter. Russell Investments Group Ltd. now owns 102,504 shares of the technology company's stock valued at $18,700,000 after acquiring an additional 46,481 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JKHY has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of 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. Wall Street Zen upgraded Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, UBS Group reduced their price target 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $185.11.

Jack Henry & Associates Price Performance

Shares of JKHY traded up $1.14 during mid-day trading on Friday, hitting $160.39. 814,353 shares of the stock were exchanged, compared to its average volume of 653,837. The company has a market cap of $11.68 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 2.90 and a beta of 0.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a 50-day moving average of $175.39 and a two-hundred day moving average of $175.63. Jack Henry & Associates, Inc. has a 52-week low of $157.80 and a 52-week high of $196.00.

Insider Activity

In other Jack Henry & Associates news, Director David B. Foss sold 5,780 shares of Jack Henry & Associates stock in a transaction 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 of the company's stock, valued at $23,296,249.20. The trade was a 3.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.37% of the company's stock.

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.