New Wave Wealth Advisors LLC Takes Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

New Wave Wealth Advisors LLC bought a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,644 shares of the technology company’s stock, valued at approximately $273,000.

Several other institutional investors have also recently added to or reduced their stakes in JKHY. Assenagon Asset Management S.A. grew its holdings in shares of Jack Henry & Associates by 6,680.1% during the second quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after purchasing an additional 113,696 shares during the last quarter. Boston Trust Walden Corp grew its stake in Jack Henry & Associates by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 212,731 shares of the technology company’s stock worth $35,318,000 after buying an additional 6,173 shares during the last quarter. GLOBALT Investments LLC GA acquired a new position in Jack Henry & Associates during the fourth quarter worth approximately $2,634,000. Norden Group LLC purchased a new stake in Jack Henry & Associates in the first quarter valued at approximately $1,411,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Jack Henry & Associates by 4.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 91,114 shares of the technology company’s stock valued at $15,829,000 after acquiring an additional 4,252 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JKHY. Compass Point assumed coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 target price on the stock. Evercore ISI upped their target price on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Keefe, Bruyette & Woods raised their price target on Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a report 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $181.00 target price on shares of Jack Henry & Associates in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Jack Henry & Associates presently has a consensus rating of “Hold” and a consensus price target of $176.55.

Jack Henry & Associates Trading Up 0.3 %

Shares of JKHY stock opened at $176.54 on Tuesday. The business’s fifty day moving average price is $170.26 and its 200 day moving average price is $167.80. The firm has a market capitalization of $12.87 billion, a PE ratio of 34.08, a P/E/G ratio of 3.09 and a beta of 0.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. Jack Henry & Associates, Inc. has a 1-year low of $136.57 and a 1-year high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, topping 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 business had revenue of $559.91 million for the quarter, compared to analysts’ expectations of $563.37 million. During the same period in the prior year, the company posted $1.34 EPS. As a group, sell-side analysts forecast that Jack Henry & Associates, Inc. will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently declared 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. The ex-dividend date was Friday, September 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.25%. Jack Henry & Associates’s payout ratio is 42.47%.

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.