abrdn plc Purchases 13,150 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

abrdn plc increased its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 73.5% during the fourth quarter, HoldingsChannel reports. The fund owned 31,048 shares of the technology company’s stock after buying an additional 13,150 shares during the quarter. abrdn plc’s holdings in Jack Henry & Associates were worth $5,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Planned Solutions Inc. bought a new stake in Jack Henry & Associates during the 4th quarter worth $33,000. NBC Securities Inc. bought a new stake in shares of Jack Henry & Associates in the 3rd quarter valued at about $30,000. Anchor Investment Management LLC bought a new stake in shares of Jack Henry & Associates in the 4th quarter valued at about $35,000. Federated Hermes Inc. bought a new stake in shares of Jack Henry & Associates in the 3rd quarter valued at about $72,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Jack Henry & Associates by 25.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 656 shares of the technology company’s stock valued at $99,000 after buying an additional 133 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank of Canada upped their price target on Jack Henry & Associates from $161.00 to $181.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Robert W. Baird upped their price target on Jack Henry & Associates from $180.00 to $186.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Citigroup initiated coverage on Jack Henry & Associates in a research note on Thursday, January 18th. They issued a “neutral” rating and a $177.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research note on Wednesday, February 7th. Finally, StockNews.com downgraded Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Jack Henry & Associates has a consensus rating of “Hold” and an average price target of $172.42.

Jack Henry & Associates Stock Down 0.6 %

JKHY stock opened at $164.88 on Friday. The stock’s 50 day simple moving average is $170.50 and its 200 day simple moving average is $163.24. Jack Henry & Associates, Inc. has a fifty-two week low of $136.57 and a fifty-two week high of $178.37. 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 $12.01 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 3.89 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, 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 business had revenue of $545.70 million for the quarter, compared to the consensus estimate of $540.34 million. During the same period in the prior year, the business earned $1.10 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts expect that Jack Henry & Associates, Inc. will post 5.11 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were paid a $0.55 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.52. This represents a $2.20 annualized dividend and a dividend yield of 1.33%. Jack Henry & Associates’s dividend payout ratio is 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.