Royal London Asset Management Ltd. decreased its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Free Report) by 11.1% during the second quarter, Holdings Channel reports. The fund owned 32,735 shares of the technology company’s stock after selling 4,103 shares during the period. Royal London Asset Management Ltd.’s holdings in Jack Henry & Associates were worth $4,509,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Jack Henry & Associates by 1,918.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,308,353 shares of the technology company’s stock worth $180,213,000 after purchasing an additional 1,243,526 shares during the period. Janus Henderson Group PLC grew its position in Jack Henry & Associates by 13,343.0% during the first quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company’s stock valued at $170,430,000 after buying an additional 1,070,376 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Jack Henry & Associates by 160.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,350,393 shares of the technology company’s stock valued at $246,420,000 after buying an additional 831,372 shares during the last quarter. Norges Bank purchased a new stake in Jack Henry & Associates during the fourth quarter valued at approximately $128,744,000. Finally, Bank of New York Mellon Corp bought a new position in Jack Henry & Associates in the second quarter worth approximately $87,669,000. 98.75% of the stock is currently owned by institutional investors.
Jack Henry & Associates Price Performance
JKHY stock opened at $167.91 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.38. The company’s fifty day moving average price is $152.35 and its 200-day moving average price is $150.89. Jack Henry & Associates, Inc. has a one year low of $121.04 and a one year high of $193.39. The company has a market capitalization of $11.93 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.92 and a beta of 0.55.
Jack Henry & Associates Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Monday, September 7th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, September 4th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.5%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 35.01%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on JKHY. UBS Group boosted their price objective on shares of Jack Henry & Associates from $165.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Weiss Ratings raised Jack Henry & Associates from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. The Goldman Sachs Group boosted their price target on Jack Henry & Associates from $158.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Royal Bank Of Canada upped their price target on Jack Henry & Associates from $173.00 to $178.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Finally, Morgan Stanley set a $170.00 price objective on Jack Henry & Associates in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $193.40.
Check Out Our Latest Stock Analysis on JKHY
About Jack Henry & Associates
Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.
The company’s core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.
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