Truist Financial Corp Increases Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Truist Financial Corp increased its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,134 shares of the technology company’s stock after buying an additional 1,231 shares during the quarter. Truist Financial Corp’s holdings in Jack Henry & Associates were worth $11,769,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Fortitude Family Office LLC boosted its holdings in Jack Henry & Associates by 647.4% in the fourth quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Jack Henry & Associates in the third quarter valued at $26,000. ORG Partners LLC purchased a new stake in Jack Henry & Associates in the fourth quarter valued at $35,000. Manchester Capital Management LLC boosted its holdings in Jack Henry & Associates by 11,750.0% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the technology company’s stock valued at $42,000 after purchasing an additional 235 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Jack Henry & Associates in the third quarter valued at $48,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Wells Fargo & Company assumed coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday. Royal Bank of Canada increased their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $186.80.

Jack Henry & Associates Stock Up 0.8 %

JKHY opened at $168.70 on Friday. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month high of $189.63. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $173.58 and a 200 day moving average price of $174.74. The company has a market cap of $12.30 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 3.34 and a beta of 0.61.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. Sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.83 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 Tuesday, March 25th. Investors of record on Thursday, March 6th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Thursday, March 6th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio is 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.