Illinois Municipal Retirement Fund Increases Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Illinois Municipal Retirement Fund raised its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 40.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,167 shares of the technology company's stock after buying an additional 13,907 shares during the period. Illinois Municipal Retirement Fund owned 0.07% of Jack Henry & Associates worth $7,871,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of JKHY. OLD National Bancorp IN acquired a new stake in Jack Henry & Associates during the fourth quarter worth about $204,000. Nikulski Financial Inc. bought a new position in shares of Jack Henry & Associates in the fourth quarter valued at approximately $200,000. Handelsbanken Fonder AB raised its stake in shares of Jack Henry & Associates by 10.9% in the fourth quarter. Handelsbanken Fonder AB now owns 764,600 shares of the technology company's stock valued at $124,943,000 after acquiring an additional 75,200 shares during the last quarter. abrdn plc raised its stake in shares of Jack Henry & Associates by 73.5% in the fourth quarter. abrdn plc now owns 31,048 shares of the technology company's stock valued at $5,074,000 after acquiring an additional 13,150 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Jack Henry & Associates by 7.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,642 shares of the technology company's stock valued at $1,085,000 after acquiring an additional 432 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on JKHY shares. Wolfe Research started coverage on shares of Jack Henry & Associates in a research note on Thursday, March 7th. They issued a "peer perform" rating for the company. Robert W. Baird lifted their target price on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the company a "neutral" rating in a research note on Wednesday, April 17th. TheStreet upgraded shares of Jack Henry & Associates from a "c+" rating to a "b-" rating in a research report on Friday, December 29th. StockNews.com cut shares of Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, William Blair restated an "outperform" rating on shares of Jack Henry & Associates in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $172.42.

Jack Henry & Associates Trading Down 0.8 %

JKHY traded down $1.28 during trading on Wednesday, reaching $165.20. 350,938 shares of the company's stock were exchanged, compared to its average volume of 428,437. The company's fifty day moving average price is $171.02 and its 200-day moving average price is $162.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37. Jack Henry & Associates, Inc. has a fifty-two week low of $136.57 and a fifty-two week high of $178.37. The firm has a market capitalization of $12.04 billion, a PE ratio of 32.33, a P/E/G ratio of 3.86 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its earnings results on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The firm had revenue of $545.70 million during the quarter, compared to analyst estimates of $540.34 million. During the same quarter in the previous year, the business earned $1.10 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts forecast that Jack Henry & Associates, Inc. will post 5.11 EPS for the current year.

Jack Henry & Associates Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Jack Henry & Associates's previous quarterly dividend of $0.52. This represents a $2.20 dividend on an annualized basis and a yield of 1.33%. Jack Henry & Associates's dividend payout ratio is presently 43.05%.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.