Freestone Grove Partners LP Purchases Shares of 7,375 Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Freestone Grove Partners LP purchased a new stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,375 shares of the technology company's stock, valued at approximately $1,293,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings in shares of Jack Henry & Associates by 647.4% in the fourth quarter. Fortitude Family Office LLC now owns 142 shares of the technology company's stock valued at $25,000 after purchasing an additional 123 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Jack Henry & Associates in the 3rd quarter valued at $26,000. National Pension Service acquired a new position in Jack Henry & Associates in the 4th quarter valued at $27,000. ORG Partners LLC acquired a new position in Jack Henry & Associates in the 4th quarter valued at $35,000. Finally, Atala Financial Inc purchased a new position in Jack Henry & Associates during the 4th quarter worth $40,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JKHY. Wells Fargo & Company assumed coverage on shares of Jack Henry & Associates in a research note on Tuesday, January 14th. They set an "underweight" rating and a $155.00 price target on the stock. William Blair reiterated an "outperform" rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. The Goldman Sachs Group raised Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price target for the company in a report on Wednesday, April 2nd. Finally, Northcoast Research lowered Jack Henry & Associates from a "buy" rating to a "neutral" rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $185.30.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY traded down $0.15 on Tuesday, hitting $172.12. The company had a trading volume of 918,520 shares, compared to its average volume of 550,087. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $196.00. The company has a market cap of $12.55 billion, a PE ratio of 31.07, a PEG ratio of 3.36 and a beta of 0.75. The business has a 50 day moving average of $175.12 and a 200 day moving average of $175.20. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.16. Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. As a group, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 6th were issued a $0.58 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a yield of 1.35%. This is a boost from Jack Henry & Associates's previous quarterly dividend of $0.55. Jack Henry & Associates's dividend payout ratio (DPR) is presently 41.88%.

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.