Oppenheimer & Co. Inc. reduced its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Free Report) by 42.0% during the third quarter, HoldingsChannel reports. The fund owned 6,008 shares of the technology company’s stock after selling 4,359 shares during the period. Oppenheimer & Co. Inc.’s holdings in Jack Henry & Associates were worth $861,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Jack Henry & Associates by 1,918.2% in the second quarter. Van ECK Associates Corp now owns 1,308,353 shares of the technology company’s stock worth $180,213,000 after buying an additional 1,243,526 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Jack Henry & Associates by 13,343.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company’s stock worth $170,430,000 after buying an additional 1,070,376 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Jack Henry & Associates in the second quarter worth approximately $87,669,000. Epoch Investment Partners Inc. raised its holdings in shares of Jack Henry & Associates by 82.4% during the first quarter. Epoch Investment Partners Inc. now owns 681,587 shares of the technology company’s stock valued at $107,718,000 after purchasing an additional 307,886 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in Jack Henry & Associates by 214.3% in the 1st quarter. Quantinno Capital Management LP now owns 419,286 shares of the technology company’s stock worth $66,264,000 after purchasing an additional 285,893 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Oppenheimer upped their price objective on Jack Henry & Associates from $208.00 to $209.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. KeyCorp assumed coverage on shares of Jack Henry & Associates in a research report on Monday, September 14th. They set an “overweight” rating and a $190.00 price objective for the company. Morgan Stanley cut their price target on Jack Henry & Associates from $170.00 to $158.00 and set an “equal weight” rating for the company in a report on Wednesday, September 30th. The Goldman Sachs Group raised their price objective on Jack Henry & Associates from $158.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Finally, Barclays lifted their price target on shares of Jack Henry & Associates from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Jack Henry & Associates has an average rating of “Moderate Buy” and a consensus price target of $190.00.
Check Out Our Latest Research Report on Jack Henry & Associates
Key Stories Impacting Jack Henry & Associates
Here are the key news stories impacting Jack Henry & Associates this week:
- Positive Sentiment: Fiscal Q1 diluted EPS was $2.28, up from $1.97 a year earlier and above analyst estimates. GAAP revenue rose 8.8%, while GAAP operating income increased 12.5%, signaling profitable growth. Jack Henry Q1 results
- Positive Sentiment: The ICBA added JHA Treasury Management to its preferred-provider program, making the solution available to member banks and potentially broadening its reach among community-bank customers. ICBA partnership announcement
- Negative Sentiment: Some earnings coverage put quarterly revenue at $682.18 million, below its $685.54 million estimate, which could weigh on sentiment despite the EPS beat. Other reports cited a different revenue figure and characterized sales as beating expectations, so the revenue comparison is inconsistent across reports. Revenue report
Jack Henry & Associates Price Performance
Shares of Jack Henry & Associates stock opened at $161.66 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.02. Jack Henry & Associates, Inc. has a 12 month low of $121.04 and a 12 month high of $193.39. The stock has a 50 day moving average of $156.63 and a 200 day moving average of $154.59. The firm has a market cap of $11.33 billion, a PE ratio of 23.45, a PEG ratio of 2.03 and a beta of 0.55.
Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.21. Jack Henry & Associates had a net margin of 19.76% and a return on equity of 23.49%. The company had revenue of $682.18 million for the quarter, compared to analysts’ expectations of $685.54 million. During the same quarter in the previous year, the business posted $1.97 earnings per share. Jack Henry & Associates’s quarterly revenue was up 8.8% on a year-over-year basis. On average, research analysts expect that Jack Henry & Associates, Inc. will post 7.30 EPS for the current fiscal year.
Jack Henry & Associates Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Monday, September 7th were issued a $0.61 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.5%. Jack Henry & Associates’s payout ratio is 35.01%.
Jack Henry & Associates Company Profile
Jack Henry & Associates, Inc is a financial technology company that provides software, payment solutions and technology services to banks and credit unions. Its offerings are designed to support core banking operations, digital banking, account management, lending, payments, fraud prevention and other financial institution functions.
The company serves community and regional banks, credit unions and other financial services organizations in the United States. Its products are delivered through integrated platforms and services intended to help financial institutions manage daily operations, improve customer and member experiences, and connect with third-party financial technology providers.
Founded in 1976 and headquartered in Monett, Missouri, Jack Henry has expanded through internal development and acquisitions, including the 2004 acquisition of Symitar, a provider of core processing and related technology for credit unions.
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