Jack Henry & Associates, Inc. (NASDAQ:JKHY) Stake Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHYGet Rating) by 34.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,440 shares of the technology company’s stock after acquiring an additional 11,217 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Jack Henry & Associates worth $7,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of JKHY. JPMorgan Chase & Co. increased its position in Jack Henry & Associates by 195.9% during the fourth quarter. JPMorgan Chase & Co. now owns 585,353 shares of the technology company’s stock worth $97,748,000 after buying an additional 387,502 shares during the last quarter. abrdn plc increased its position in Jack Henry & Associates by 11.9% during the fourth quarter. abrdn plc now owns 27,671 shares of the technology company’s stock worth $4,621,000 after buying an additional 2,941 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Jack Henry & Associates by 580.7% in the fourth quarter. Allianz Asset Management GmbH now owns 10,592 shares of the technology company’s stock valued at $1,769,000 after purchasing an additional 9,036 shares during the last quarter. MAI Capital Management grew its position in shares of Jack Henry & Associates by 4.8% in the fourth quarter. MAI Capital Management now owns 2,341 shares of the technology company’s stock valued at $391,000 after purchasing an additional 107 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its position in shares of Jack Henry & Associates by 64.5% in the fourth quarter. Ensign Peak Advisors Inc now owns 24,515 shares of the technology company’s stock valued at $4,093,000 after purchasing an additional 9,609 shares during the last quarter. 90.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on JKHY. Royal Bank of Canada lifted their target price on Jack Henry & Associates from $190.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 18th. DA Davidson downgraded Jack Henry & Associates from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Thursday, August 18th. Credit Suisse Group raised their price target on shares of Jack Henry & Associates from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. Morgan Stanley cut their price target on shares of Jack Henry & Associates from $190.00 to $185.00 and set an “equal weight” rating for the company in a research note on Thursday, August 18th. Finally, StockNews.com cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $184.00.

Jack Henry & Associates Trading Up 0.9 %

JKHY opened at $193.29 on Tuesday. The company’s 50 day moving average is $199.33 and its 200-day moving average is $191.32. Jack Henry & Associates, Inc. has a 1-year low of $147.50 and a 1-year high of $212.62. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08. The company has a market cap of $14.09 billion, a P/E ratio of 39.13, a PEG ratio of 4.32 and a beta of 0.65.

Jack Henry & Associates (NASDAQ:JKHYGet Rating) last announced its quarterly earnings results on Tuesday, August 16th. The technology company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. Jack Henry & Associates had a net margin of 18.68% and a return on equity of 26.99%. The business had revenue of $482.67 million for the quarter, compared to analysts’ expectations of $480.30 million. During the same quarter last year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict that Jack Henry & Associates, Inc. will post 4.92 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, September 9th will be given a $0.49 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.01%. Jack Henry & Associates’s dividend payout ratio is currently 39.68%.

Jack Henry & Associates Company Profile

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Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The company offers information and transaction processing solutions for banks ranging from community to multi-billion-dollar asset institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.

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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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