JPMorgan Chase & Co. Boosts Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

JPMorgan Chase & Co. raised its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 7.9% during the third quarter, HoldingsChannel.com reports. The firm owned 1,791,810 shares of the technology company’s stock after buying an additional 131,515 shares during the quarter. JPMorgan Chase & Co.’s holdings in Jack Henry & Associates were worth $316,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in Jack Henry & Associates during the 2nd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Jack Henry & Associates in the 3rd quarter valued at $26,000. Tortoise Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 71 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Jack Henry & Associates during the 3rd quarter worth $48,000. Finally, Point72 Asset Management L.P. acquired a new stake in Jack Henry & Associates in the 3rd quarter valued at $54,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stephens restated an “equal weight” rating and set a $170.00 price objective on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Oppenheimer began coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Compass Point assumed coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target for the company. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $189.00.

Insiders Place Their Bets

In other news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now directly owns 138,665 shares in the company, valued at approximately $23,756,087.80. This trade represents a 11.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Jack Henry & Associates Price Performance

JKHY opened at $176.88 on Monday. The company has a market capitalization of $12.91 billion, a P/E ratio of 32.40, a PEG ratio of 3.39 and a beta of 0.61. The company has a 50-day moving average of $177.56 and a 200-day moving average of $173.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.11 and a current ratio of 1.11. Jack Henry & Associates, Inc. has a 1-year low of $157.00 and a 1-year high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The firm had revenue of $600.98 million for the quarter, compared to analysts’ expectations of $599.56 million. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Jack Henry & Associates’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts expect that Jack Henry & Associates, Inc. will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 2nd were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.24%. The ex-dividend date was Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 40.29%.

Jack Henry & Associates 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.