Daiwa Securities Group Inc. Boosts Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Daiwa Securities Group Inc. lifted its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 7.0% during the 4th quarter, HoldingsChannel reports. The fund owned 6,642 shares of the technology company’s stock after purchasing an additional 432 shares during the period. Daiwa Securities Group Inc.’s holdings in Jack Henry & Associates were worth $1,085,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Jack Henry & Associates by 1.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,742,546 shares of the technology company’s stock worth $565,648,000 after acquiring an additional 46,534 shares in the last quarter. Invesco Ltd. raised its position in shares of Jack Henry & Associates by 15.3% during the 3rd quarter. Invesco Ltd. now owns 1,106,851 shares of the technology company’s stock worth $167,289,000 after purchasing an additional 147,143 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Jack Henry & Associates by 21.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,043,098 shares of the technology company’s stock worth $157,654,000 after purchasing an additional 181,811 shares during the last quarter. Northern Trust Corp raised its position in shares of Jack Henry & Associates by 3.5% during the 3rd quarter. Northern Trust Corp now owns 818,737 shares of the technology company’s stock worth $123,744,000 after purchasing an additional 28,017 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Jack Henry & Associates by 34.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 689,400 shares of the technology company’s stock worth $104,196,000 after purchasing an additional 177,200 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Performance

Jack Henry & Associates stock opened at $165.20 on Thursday. The firm has a 50 day simple moving average of $170.82 and a 200-day simple moving average of $163.00. Jack Henry & Associates, Inc. has a 1-year low of $136.57 and a 1-year high of $178.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 3.86 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate 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 business 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 company posted $1.10 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts expect that Jack Henry & Associates, Inc. will post 5.11 EPS for the current year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 43.05%.

Analyst Ratings Changes

JKHY has been the subject of several research analyst reports. Royal Bank of Canada upped 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. StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. William Blair restated an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, February 7th. Robert W. Baird upped their price target on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, TheStreet upgraded shares of Jack Henry & Associates from a “c+” rating to a “b-” rating in a report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $172.42.

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.