Benjamin Edwards Inc. Purchases 121,667 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Benjamin Edwards Inc. boosted its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2,032.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,654 shares of the technology company’s stock after acquiring an additional 121,667 shares during the quarter. Benjamin Edwards Inc.’s holdings in Jack Henry & Associates were worth $22,540,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Jack Henry & Associates by 188.4% in the 2nd quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock valued at $46,819,000 after purchasing an additional 184,210 shares during the last quarter. Mackenzie Financial Corp grew its position in Jack Henry & Associates by 51.4% in the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after acquiring an additional 171,041 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Jack Henry & Associates by 6,680.1% during the second quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after acquiring an additional 113,696 shares in the last quarter. Tandem Investment Advisors Inc. raised its stake in Jack Henry & Associates by 20.4% during the second quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock worth $83,496,000 after acquiring an additional 85,175 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Jack Henry & Associates by 207.3% in the second quarter. SG Americas Securities LLC now owns 122,075 shares of the technology company’s stock worth $20,267,000 after acquiring an additional 82,351 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JKHY shares. UBS Group upped their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Stephens reiterated an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a report on Wednesday, November 6th. Compass Point initiated coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price target for the company. Robert W. Baird boosted their price objective on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Oppenheimer began coverage on Jack Henry & Associates in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Jack Henry & Associates has an average rating of “Hold” and a consensus target price of $188.73.

Insiders Place Their Bets

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now directly owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.37% of the company’s stock.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock opened at $176.18 on Monday. The stock’s 50 day moving average is $179.07 and its 200 day moving average is $171.52. Jack Henry & Associates, Inc. has a one year low of $154.77 and a one year high of $189.63. The firm has a market cap of $12.85 billion, a P/E ratio of 32.27, a P/E/G ratio of 3.32 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm had revenue of $600.98 million during the quarter, compared to analyst estimates of $599.56 million. During the same quarter last year, the business earned $1.39 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Jack Henry & Associates, Inc. will post 5.8 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.25%. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 40.29%.

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.