Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHYGet Rating) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,547 shares of the technology company’s stock after buying an additional 2,698 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.05% of Jack Henry & Associates worth $7,596,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. National Asset Management Inc. boosted its holdings in shares of Jack Henry & Associates by 134.7% during the first quarter. National Asset Management Inc. now owns 4,152 shares of the technology company’s stock worth $819,000 after purchasing an additional 2,383 shares during the period. Tcwp LLC purchased a new stake in shares of Jack Henry & Associates during the first quarter worth about $45,000. Johnson Investment Counsel Inc. purchased a new stake in shares of Jack Henry & Associates during the first quarter worth about $1,437,000. JustInvest LLC boosted its holdings in shares of Jack Henry & Associates by 43.2% during the fourth quarter. JustInvest LLC now owns 7,929 shares of the technology company’s stock worth $1,324,000 after purchasing an additional 2,393 shares during the period. Finally, Quent Capital LLC purchased a new stake in shares of Jack Henry & Associates during the fourth quarter worth about $37,000. 90.80% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Price Performance

Shares of JKHY opened at $188.26 on Thursday. The company has a market capitalization of $13.72 billion, a P/E ratio of 38.11, a price-to-earnings-growth ratio of 4.36 and a beta of 0.65. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $199.50 and a 200 day moving average of $191.29. Jack Henry & Associates, Inc. has a twelve month low of $147.50 and a twelve month high of $212.62.

Jack Henry & Associates (NASDAQ:JKHYGet Rating) last announced its quarterly earnings results on Tuesday, August 16th. The technology company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. Jack Henry & Associates had a net margin of 18.68% and a return on equity of 26.99%. 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 firm earned $1.04 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Jack Henry & Associates, Inc. will post 4.92 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 9th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, September 8th. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Ratings Changes

Several brokerages have commented on JKHY. DA Davidson lowered shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating and set a $210.00 price objective for the company. in a report on Thursday, August 18th. Royal Bank of Canada raised their price objective on shares of Jack Henry & Associates from $190.00 to $199.00 and gave the stock a “sector perform” rating in a report on Thursday, August 18th. Evercore ISI raised their price objective on shares of Jack Henry & Associates to $175.00 in a report on Tuesday, August 23rd. Credit Suisse Group raised their target price on shares of Jack Henry & Associates from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. Finally, Morgan Stanley decreased their target price on shares of Jack Henry & Associates from $190.00 to $185.00 and set an “equal weight” rating for the company in a research note on Thursday, August 18th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $184.00.

Jack Henry & Associates Profile

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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.

See Also

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

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