Jack Henry & Associates, Inc. (NASDAQ:JKHY) Holdings Lifted by Bank of Montreal Can

Bank of Montreal Can raised its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,049 shares of the technology company’s stock after purchasing an additional 4,732 shares during the quarter. Bank of Montreal Can owned about 0.18% of Jack Henry & Associates worth $22,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new position in shares of Jack Henry & Associates during the second quarter valued at $25,000. Tortoise Investment Management LLC increased its stake in Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after buying an additional 71 shares during the period. New Covenant Trust Company N.A. bought a new stake in shares of Jack Henry & Associates during the 1st quarter worth about $30,000. Blue Trust Inc. lifted its stake in shares of Jack Henry & Associates by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after acquiring an additional 134 shares during the period. Finally, Riverview Trust Co bought a new position in shares of Jack Henry & Associates in the first quarter valued at approximately $51,000. Institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JKHY. Keefe, Bruyette & Woods increased their price target on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, August 22nd. StockNews.com raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Compass Point began coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $181.00 price objective on shares of Jack Henry & Associates in a research report on Friday, September 6th. Finally, Evercore ISI lifted their price objective on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $176.55.

Jack Henry & Associates Stock Up 1.1 %

Shares of JKHY stock opened at $175.99 on Friday. The stock’s 50 day simple moving average is $170.06 and its 200 day simple moving average is $167.84. Jack Henry & Associates, Inc. has a twelve month low of $136.57 and a twelve month high of $178.37. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 3.09 and a beta of 0.64.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. The company had revenue of $559.91 million during the quarter, compared to analysts’ expectations of $563.37 million. During the same period in the prior year, the company earned $1.34 earnings per share. As a group, research analysts predict that Jack Henry & Associates, Inc. will post 5.82 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is presently 42.47%.

Jack Henry & Associates Company Profile

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.