Gradient Investments LLC Makes New Investment in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Gradient Investments LLC bought a new position in Jack Henry & Associates, Inc. (NASDAQ:JKHYGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,122 shares of the technology company’s stock, valued at approximately $418,000.

Several other hedge funds also recently bought and sold shares of the company. APG Asset Management N.V. increased its position in Jack Henry & Associates by 160.9% in the 1st quarter. APG Asset Management N.V. now owns 4,422,791 shares of the technology company’s stock worth $783,275,000 after purchasing an additional 2,727,700 shares during the last quarter. State Street Corp increased its holdings in shares of Jack Henry & Associates by 2.0% during the 4th quarter. State Street Corp now owns 3,271,090 shares of the technology company’s stock valued at $546,239,000 after acquiring an additional 65,054 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Jack Henry & Associates by 1.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,946,746 shares of the technology company’s stock valued at $492,083,000 after acquiring an additional 29,493 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Jack Henry & Associates by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,564,435 shares of the technology company’s stock valued at $260,687,000 after acquiring an additional 28,883 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Jack Henry & Associates by 77.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,040,077 shares of the technology company’s stock valued at $204,945,000 after acquiring an additional 454,724 shares during the last quarter. 90.80% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Price Performance

Shares of JKHY stock opened at $192.86 on Friday. The stock has a 50 day moving average of $199.08 and a two-hundred day moving average of $191.05. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08. Jack Henry & Associates, Inc. has a 12 month low of $147.50 and a 12 month high of $212.62. The company has a market capitalization of $14.06 billion, a P/E ratio of 39.04, a P/E/G ratio of 4.38 and a beta of 0.65.

Jack Henry & Associates (NASDAQ:JKHYGet Rating) last announced its quarterly earnings data on Tuesday, August 16th. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Jack Henry & Associates had a return on equity of 26.99% and a net margin of 18.68%. The company had revenue of $482.67 million during the quarter, compared to the consensus estimate of $480.30 million. During the same quarter last year, the company earned $1.04 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts expect that Jack Henry & Associates, Inc. will post 4.92 EPS for the current year.

Jack Henry & Associates Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, September 9th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.02%. Jack Henry & Associates’s payout ratio is presently 39.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on JKHY shares. Morgan Stanley lowered their price objective on Jack Henry & Associates from $190.00 to $185.00 and set an “equal weight” rating on the stock in a report on Thursday, August 18th. Royal Bank of Canada increased their price objective on Jack Henry & Associates from $190.00 to $199.00 and gave the company a “sector perform” rating in a report on Thursday, August 18th. Credit Suisse Group increased their target price on Jack Henry & Associates from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. DA Davidson downgraded Jack Henry & Associates from a “buy” rating to a “neutral” rating and set a $210.00 target price for the company. in a research note on Thursday, August 18th. Finally, StockNews.com downgraded Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $184.00.

About Jack Henry & Associates

(Get Rating)

Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The company offers information and transaction processing solutions for banks ranging from community to multi-billion-dollar asset institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.

Further Reading

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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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