Sumitomo Mitsui Trust Group Inc. Acquires 7,523 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Sumitomo Mitsui Trust Group Inc. grew its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 4.4% during the fourth quarter, Holdings Channel reports. The firm owned 180,198 shares of the technology company’s stock after purchasing an additional 7,523 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Jack Henry & Associates were worth $31,589,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in Jack Henry & Associates by 1.7% in the third quarter. State Street Corp now owns 3,976,658 shares of the technology company’s stock valued at $702,039,000 after acquiring an additional 67,716 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Jack Henry & Associates by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after acquiring an additional 131,515 shares during the period. Nordea Investment Management AB raised its position in shares of Jack Henry & Associates by 50.8% in the fourth quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock worth $136,720,000 after buying an additional 263,021 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Jack Henry & Associates by 3.2% during the third quarter. Raymond James & Associates now owns 631,974 shares of the technology company’s stock worth $111,569,000 after purchasing an additional 19,846 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Jack Henry & Associates by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 610,742 shares of the technology company’s stock worth $107,820,000 after acquiring an additional 2,324 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. This trade represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JKHY. Keefe, Bruyette & Woods boosted their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Stephens reiterated an “equal weight” rating and issued a $170.00 price objective on shares of Jack Henry & Associates in a report on Wednesday, November 6th. William Blair lowered Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group raised their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $186.80.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock opened at $170.97 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.11 and a current ratio of 3.11. Jack Henry & Associates, Inc. has a 1 year low of $157.00 and a 1 year high of $189.63. The stock has a market capitalization of $12.47 billion, a P/E ratio of 30.86, a P/E/G ratio of 3.46 and a beta of 0.61. The company’s fifty day moving average price is $174.73 and its 200 day moving average price is $174.92.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. As a group, equities research analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 6th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s payout ratio is currently 39.71%.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. 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, and general ledger transactions, and maintain centralized customer and member information.