International Assets Investment Management LLC Makes New Investment in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

International Assets Investment Management LLC purchased a new stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 111,609 shares of the technology company’s stock, valued at approximately $18,238,000.

Several other hedge funds have also made changes to their positions in JKHY. Morgan Stanley lifted its holdings in shares of Jack Henry & Associates by 117.1% in the 4th quarter. Morgan Stanley now owns 1,709,702 shares of the technology company’s stock valued at $300,155,000 after purchasing an additional 922,054 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Jack Henry & Associates by 24.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,640,497 shares of the technology company’s stock valued at $548,696,000 after acquiring an additional 726,875 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Jack Henry & Associates by 1,587.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 347,018 shares of the technology company’s stock worth $56,706,000 after acquiring an additional 326,448 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Jack Henry & Associates by 19.1% in the first quarter. JPMorgan Chase & Co. now owns 1,900,968 shares of the technology company’s stock valued at $286,513,000 after purchasing an additional 304,400 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of Jack Henry & Associates by 523.8% in the first quarter. Baird Financial Group Inc. now owns 246,806 shares of the technology company’s stock valued at $48,633,000 after purchasing an additional 207,243 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on JKHY shares. Evercore ISI boosted their target price on shares of Jack Henry & Associates from $157.00 to $172.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research note on Wednesday, February 7th. Robert W. Baird reiterated a “neutral” rating and issued a $176.00 price target on shares of Jack Henry & Associates in a report on Tuesday, January 30th. Royal Bank of Canada raised their price objective on Jack Henry & Associates from $161.00 to $181.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Finally, Citigroup assumed coverage on Jack Henry & Associates in a research note on Thursday, January 18th. They issued a “neutral” rating and a $177.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $171.58.

Jack Henry & Associates Stock Performance

JKHY opened at $170.05 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $12.39 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 4.02 and a beta of 0.66. The stock has a 50-day moving average of $171.77 and a 200-day moving average of $161.87. Jack Henry & Associates, Inc. has a 52-week low of $136.57 and a 52-week high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Wednesday, February 7th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. The firm had revenue of $545.70 million during the quarter, compared to analysts’ expectations of $540.34 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts forecast that Jack Henry & Associates, Inc. will post 5.11 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 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 1.29%. Jack Henry & Associates’s dividend payout ratio (DPR) 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.