Riverbridge Partners LLC lowered its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Free Report) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,748 shares of the technology company’s stock after selling 7,416 shares during the quarter. Riverbridge Partners LLC’s holdings in Jack Henry & Associates were worth $6,696,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Entrust Financial LLC boosted its stake in shares of Jack Henry & Associates by 73.1% during the third quarter. Entrust Financial LLC now owns 187 shares of the technology company’s stock valued at $27,000 after purchasing an additional 79 shares in the last quarter. Essential Partners LLC increased its holdings in Jack Henry & Associates by 65.8% during the first quarter. Essential Partners LLC now owns 184 shares of the technology company’s stock valued at $29,000 after buying an additional 73 shares during the period. Root Financial Partners LLC bought a new position in Jack Henry & Associates in the third quarter worth approximately $34,000. Mather Group LLC. raised its stake in Jack Henry & Associates by 75.1% in the third quarter. Mather Group LLC. now owns 408 shares of the technology company’s stock worth $58,000 after buying an additional 175 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Jack Henry & Associates in the first quarter worth approximately $63,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on JKHY shares. Oppenheimer upped their target price on Jack Henry & Associates from $208.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. The Goldman Sachs Group lifted 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. Seaport Research Partners started coverage on Jack Henry & Associates in a research report on Monday, September 28th. They issued a “buy” rating and a $193.00 price target for the company. Wolfe Research boosted their price target on Jack Henry & Associates from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Finally, Bank of America assumed coverage on Jack Henry & Associates in a research note on Thursday, October 15th. They set a “neutral” rating and a $165.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.18.
Read Our Latest Stock Report on JKHY
Jack Henry & Associates Stock Up 2.3%
NASDAQ:JKHY opened at $175.19 on Wednesday. The company’s 50-day simple moving average is $157.14 and its 200-day simple moving average is $154.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.38. Jack Henry & Associates, Inc. has a fifty-two week low of $121.04 and a fifty-two week high of $193.39. The stock has a market capitalization of $12.20 billion, a P/E ratio of 23.52, a P/E/G ratio of 2.08 and a beta of 0.55.
Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The technology company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.07 by $0.21. The firm had revenue of $682.18 million during the quarter, compared to analyst estimates of $685.54 million. Jack Henry & Associates had a net margin of 19.96% and a return on equity of 24.46%. Jack Henry & Associates’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.97 EPS. On average, equities analysts anticipate that Jack Henry & Associates, Inc. will post 7.40 earnings per share for the current fiscal year.
Jack Henry & Associates Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Monday, September 7th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, September 4th. Jack Henry & Associates’s dividend payout ratio (DPR) is 33.52%.
About Jack Henry & Associates
Jack Henry & Associates, Inc. is a financial technology company that provides software and services to banks and credit unions. Founded in 1976 and headquartered in Monett, Missouri, the company focuses on helping financial institutions manage operations and serve customers. Its offerings include core banking systems, digital banking platforms, payment processing, lending solutions, and tools for managing fraud, risk, and information security. Jack Henry also provides data, hosting, and related technology services.
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