Jack Henry & Associates, Inc. (NASDAQ:JKHY) Position Increased by State of Michigan Retirement System

Posted by Defense World Staff on Apr 12th, 2023

State of Michigan Retirement System increased its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY – Get Rating) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,916 shares of the technology company’s stock after acquiring an additional 200 shares during the period. State of Michigan Retirement System’s holdings in Jack Henry & Associates were worth $3,672,000 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. Hanseatic Management Services Inc. raised its holdings in shares of Jack Henry & Associates by 73.7% during the third quarter. Hanseatic Management Services Inc. now owns 205 shares of the technology company’s stock worth $37,000 after acquiring an additional 87 shares in the last quarter. Ellevest Inc. raised its holdings in shares of Jack Henry & Associates by 420.0% during the third quarter. Ellevest Inc. now owns 208 shares of the technology company’s stock worth $38,000 after acquiring an additional 168 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of Jack Henry & Associates by 91.2% during the fourth quarter. Ronald Blue Trust Inc. now owns 218 shares of the technology company’s stock worth $39,000 after acquiring an additional 104 shares in the last quarter. Guardian Wealth Advisors LLC bought a new position in Jack Henry & Associates during the third quarter valued at about $47,000. Finally, Atlas Capital Advisors LLC bought a new position in Jack Henry & Associates during the third quarter valued at about $53,000. 90.26% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Trading Up 3.1 %

Jack Henry & Associates stock opened at $153.39 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15. The business’s 50-day simple moving average is $159.59 and its 200-day simple moving average is $174.91. The firm has a market capitalization of $11.20 billion, a PE ratio of 31.82, a PEG ratio of 3.43 and a beta of 0.63. Jack Henry & Associates, Inc. has a 52 week low of $139.28 and a 52 week high of $212.62.

Jack Henry & Associates (NASDAQ:JKHY – Get Rating) last released its earnings results on Wednesday, February 8th. The technology company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Jack Henry & Associates had a return on equity of 24.81% and a net margin of 17.66%. The firm had revenue of $505.30 million for the quarter, compared to analyst estimates of $515.47 million. During the same period last year, the business earned $1.30 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Jack Henry & Associates, Inc. will post 4.82 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Wednesday, March 8th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 7th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a yield of 1.36%. Jack Henry & Associates’s dividend payout ratio (DPR) is 43.15%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley cut their target price on Jack Henry & Associates from $185.00 to $175.00 and set an “equal weight” rating on the stock in a report on Thursday, February 9th. Royal Bank of Canada restated a “sector perform” rating and set a $184.00 target price (down from $193.00) on shares of Jack Henry & Associates in a report on Thursday, February 9th. Oppenheimer cut their target price on Jack Henry & Associates from $191.00 to $181.00 and set an “outperform” rating on the stock in a report on Thursday, February 9th. DA Davidson cut their target price on Jack Henry & Associates from $198.00 to $188.00 and set a “neutral” rating on the stock in a report on Thursday, February 9th. Finally, William Blair assumed coverage on Jack Henry & Associates in a report on Wednesday, January 11th. They set an “outperform” rating on the stock. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $178.60.

Insider Buying and Selling

In other news, Director Laura G. Kelly bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were acquired at an average cost of $145.29 per share, with a total value of $145,290.00. Following the completion of the transaction, the director now directly owns 16,194 shares in the company, valued at $2,352,826.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by company insiders.

Jack Henry & Associates Company Profile

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