Raymond James & Associates Raises Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Raymond James & Associates lifted its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 5.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 585,700 shares of the technology company's stock after buying an additional 29,538 shares during the quarter. Raymond James & Associates owned approximately 0.80% of Jack Henry & Associates worth $101,754,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Schwartz Investment Counsel Inc. lifted its holdings in shares of Jack Henry & Associates by 14.5% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 266,350 shares of the technology company's stock worth $43,524,000 after buying an additional 33,700 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Jack Henry & Associates by 16.1% in the third quarter. Nordea Investment Management AB now owns 545,605 shares of the technology company's stock worth $82,779,000 after buying an additional 75,735 shares in the last quarter. Inspire Investing LLC increased its position in Jack Henry & Associates by 5.1% in the third quarter. Inspire Investing LLC now owns 4,446 shares of the technology company's stock worth $672,000 after purchasing an additional 217 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Jack Henry & Associates by 202.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,106 shares of the technology company's stock worth $1,527,000 after purchasing an additional 6,760 shares during the last quarter. Finally, LPL Financial LLC increased its position in Jack Henry & Associates by 16.9% in the third quarter. LPL Financial LLC now owns 41,146 shares of the technology company's stock worth $6,210,000 after purchasing an additional 5,960 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on JKHY shares. Citigroup started coverage on shares of Jack Henry & Associates in a research report on Thursday, January 18th. They issued a "neutral" rating and a $177.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of Jack Henry & Associates from $161.00 to $181.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 8th. Wolfe Research started coverage on shares of Jack Henry & Associates in a research report on Thursday, March 7th. They issued a "peer perform" rating on the stock. StockNews.com cut shares of Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Saturday, April 20th. Finally, William Blair reiterated an "outperform" rating on shares of Jack Henry & Associates in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $174.42.

Jack Henry & Associates Trading Down 0.0 %

Shares of JKHY traded down $0.01 during trading hours on Thursday, reaching $162.51. 369,854 shares of the company traded hands, compared to its average volume of 425,028. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 3.81 and a beta of 0.66. Jack Henry & Associates, Inc. has a 12-month low of $136.57 and a 12-month high of $178.37. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average price is $169.98 and its 200 day moving average price is $163.62.

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

Jack Henry & Associates Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were paid a dividend of $0.55 per share. 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 dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, March 7th. Jack Henry & Associates's payout ratio is currently 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.