Toroso Investments LLC Grows Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)
Toroso Investments LLC raised its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Get Rating) by 63.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,980 shares of the technology company’s stock after acquiring an additional 2,327 shares during the quarter. Toroso Investments LLC’s holdings in Jack Henry & Associates were worth $1,090,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Jack Henry & Associates by 1.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 9,306 shares of the technology company’s stock valued at $1,696,000 after acquiring an additional 109 shares during the period. Fifth Third Bancorp boosted its stake in shares of Jack Henry & Associates by 24.9% during the 3rd quarter. Fifth Third Bancorp now owns 1,843 shares of the technology company’s stock valued at $336,000 after purchasing an additional 367 shares in the last quarter. Ossiam boosted its stake in shares of Jack Henry & Associates by 9,693.3% during the 2nd quarter. Ossiam now owns 17,432 shares of the technology company’s stock valued at $3,138,000 after purchasing an additional 17,254 shares in the last quarter. Summit Global Investments bought a new stake in shares of Jack Henry & Associates during the 2nd quarter valued at about $1,284,000. Finally, CoreCap Advisors LLC bought a new stake in shares of Jack Henry & Associates during the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 90.26% of the company’s stock.
Jack Henry & Associates Stock Down 1.1 %
NASDAQ:JKHY opened at $146.46 on Friday. The firm has a market cap of $10.69 billion, a P/E ratio of 30.39, a P/E/G ratio of 3.35 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15. Jack Henry & Associates, Inc. has a fifty-two week low of $139.28 and a fifty-two week high of $212.62. The firm has a 50-day simple moving average of $170.02 and a two-hundred day simple moving average of $180.22.
Jack Henry & Associates (NASDAQ:JKHY – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The technology company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). The firm had revenue of $505.30 million for the quarter, compared to the consensus estimate of $515.47 million. Jack Henry & Associates had a net margin of 17.66% and a return on equity of 24.81%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 earnings per share. Analysts predict that Jack Henry & Associates, Inc. will post 4.82 earnings per share for the current fiscal year.
Jack Henry & Associates Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Wednesday, March 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, March 7th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.49. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 43.15%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on JKHY shares. Oppenheimer cut their target price on shares of Jack Henry & Associates from $191.00 to $181.00 and set an “outperform” rating on the stock in a research note on Thursday, February 9th. DA Davidson cut their target price on shares of Jack Henry & Associates from $198.00 to $188.00 and set a “neutral” rating on the stock in a research note on Thursday, February 9th. William Blair assumed coverage on shares of Jack Henry & Associates in a research report on Wednesday, January 11th. They set an “outperform” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $184.00 price target (down from $193.00) on shares of Jack Henry & Associates in a research report on Thursday, February 9th. Finally, UBS Group raised shares of Jack Henry & Associates from a “neutral” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Jack Henry & Associates has an average rating of “Hold” and an average target price of $180.22.
In related news, Director Laura G. Kelly purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were purchased at an average price of $145.29 per share, with a total value of $145,290.00. Following the acquisition, the director now directly owns 16,194 shares in the company, valued at approximately $2,352,826.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.
About Jack Henry & Associates
Jack Henry & Associates, Inc is a technology company, which engages in the provision of technology solutions and payment processing services primarily for financial services organizations. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions, which consist of integrated applications required to process deposit, loan, general ledger transactions, and maintain centralized customer or member information.
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