International Assets Investment Management LLC Purchases New Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

International Assets Investment Management LLC purchased a new stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 111,609 shares of the technology company’s stock, valued at approximately $18,238,000. International Assets Investment Management LLC owned 0.15% of Jack Henry & Associates at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Jack Henry & Associates by 1.3% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,742,546 shares of the technology company’s stock valued at $565,648,000 after purchasing an additional 46,534 shares in the last quarter. Invesco Ltd. raised its stake in shares of Jack Henry & Associates by 15.3% during the 3rd quarter. Invesco Ltd. now owns 1,106,851 shares of the technology company’s stock worth $167,289,000 after buying an additional 147,143 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Jack Henry & Associates by 21.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,043,098 shares of the technology company’s stock valued at $157,654,000 after buying an additional 181,811 shares in the last quarter. Northern Trust Corp grew its stake in Jack Henry & Associates by 3.5% in the 3rd quarter. Northern Trust Corp now owns 818,737 shares of the technology company’s stock valued at $123,744,000 after acquiring an additional 28,017 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Jack Henry & Associates by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 576,568 shares of the technology company’s stock worth $87,142,000 after acquiring an additional 7,211 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JKHY. Wolfe Research initiated coverage on shares of Jack Henry & Associates in a research report on Thursday, March 7th. They issued a “peer perform” rating on the stock. Evercore ISI boosted their price objective on Jack Henry & Associates from $157.00 to $172.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. DA Davidson restated a “buy” rating and issued a $198.00 target price on shares of Jack Henry & Associates in a research report on Tuesday, April 30th. Robert W. Baird boosted their price target on Jack Henry & Associates from $180.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, Citigroup started coverage on Jack Henry & Associates in a report on Thursday, January 18th. They issued a “neutral” rating and a $177.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $174.42.

Jack Henry & Associates Stock Performance

Jack Henry & Associates stock opened at $164.18 on Friday. The stock has a market cap of $11.96 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 3.80 and a beta of 0.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a 50 day simple moving average of $169.52 and a 200-day simple moving average of $163.82. Jack Henry & Associates, Inc. has a 1-year low of $136.57 and a 1-year high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.12. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. The company had revenue of $545.70 million during the quarter, compared to analyst estimates of $540.34 million. During the same period in the prior year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts expect that Jack Henry & Associates, Inc. will post 5.12 EPS for the current year.

Jack Henry & Associates Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were given a $0.55 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.20 dividend on an annualized basis and a yield of 1.34%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. Jack Henry & Associates’s dividend payout ratio is presently 43.05%.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.