Zions Bancorporation National Association UT Takes Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• Zions Bancorporation National Association UT has initiated a new investment in Jack Henry & Associates, purchasing 11,374 shares valued at approximately $2,077,000 in the first quarter.
• Institutional investors now own 98.75% of Jack Henry & Associates' stock, indicating strong institutional support for the company.
• Jack Henry & Associates recently reported a quarterly EPS of $1.52, exceeding analyst expectations of $1.29, with a year-over-year revenue increase of 8.6%.

Zions Bancorporation National Association UT purchased a new position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,374 shares of the technology company's stock, valued at approximately $2,077,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Founders Financial Alliance LLC bought a new position in shares of Jack Henry & Associates during the first quarter worth about $212,000. Forsta AP Fonden raised its stake in Jack Henry & Associates by 4.6% during the first quarter. Forsta AP Fonden now owns 22,800 shares of the technology company's stock valued at $4,163,000 after buying an additional 1,000 shares in the last quarter. National Bank of Canada FI lifted its holdings in Jack Henry & Associates by 6.0% during the 1st quarter. National Bank of Canada FI now owns 36,167 shares of the technology company's stock worth $6,604,000 after buying an additional 2,050 shares during the last quarter. Citigroup Inc. grew its position in shares of Jack Henry & Associates by 52.3% in the 1st quarter. Citigroup Inc. now owns 132,529 shares of the technology company's stock worth $24,200,000 after acquiring an additional 45,496 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Jack Henry & Associates by 3.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,367,002 shares of the technology company's stock valued at $249,615,000 after acquiring an additional 48,311 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on JKHY shares. UBS Group dropped their price target 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. Keefe, Bruyette & Woods dropped their price target on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen raised Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Jack Henry & Associates currently has a consensus rating of "Hold" and an average price target of $185.11.

Jack Henry & Associates Stock Performance

Jack Henry & Associates stock traded down $3.04 during midday trading on Monday, reaching $158.52. 1,114,464 shares of the stock traded hands, compared to its average volume of 531,970. The firm has a fifty day moving average price of $177.03 and a two-hundred day moving average price of $176.04. Jack Henry & Associates, Inc. has a fifty-two week low of $157.80 and a fifty-two week high of $196.00. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 27.01 and a beta of 0.73. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04.

Insider Activity

In related news, Director David B. Foss sold 5,780 shares of the firm'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 value of $966,878.40. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.37% of the company's stock.

Jack Henry & Associates 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.