Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by CI Investments Inc.

Posted by Defense World Staff on May 25th, 2023

CI Investments Inc. lessened its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Get Rating) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 766 shares of the technology company’s stock after selling 150 shares during the period. CI Investments Inc.’s holdings in Jack Henry & Associates were worth $134,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of JKHY. Hanseatic Management Services Inc. increased its position in 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 purchasing an additional 87 shares during the last quarter. Ronald Blue Trust Inc. increased its position in 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 purchasing an additional 104 shares during the last quarter. Guardian Wealth Advisors LLC acquired a new position in Jack Henry & Associates during the third quarter worth approximately $47,000. Atlas Capital Advisors LLC acquired a new position in Jack Henry & Associates during the third quarter worth approximately $53,000. Finally, Fred Alger Management LLC increased its position in Jack Henry & Associates by 282.0% during the third quarter. Fred Alger Management LLC now owns 424 shares of the technology company’s stock worth $77,000 after purchasing an additional 313 shares during the last quarter. Institutional investors and hedge funds own 90.26% of the company’s stock.

Jack Henry & Associates Trading Down 1.8 %

NASDAQ JKHY opened at $146.17 on Thursday. Jack Henry & Associates, Inc. has a 12 month low of $139.28 and a 12 month high of $212.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 3.43 and a beta of 0.63. The company’s fifty day moving average price is $152.32 and its two-hundred day moving average price is $167.76.

Jack Henry & Associates (NASDAQ:JKHY – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Jack Henry & Associates had a net margin of 17.24% and a return on equity of 23.71%. The firm had revenue of $508.55 million for the quarter, compared to the consensus estimate of $500.76 million. During the same period in the prior year, the firm posted $1.16 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Jack Henry & Associates, Inc. will post 4.82 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 26th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $2.08 dividend on an annualized basis and a yield of 1.42%. Jack Henry & Associates’s dividend payout ratio (DPR) is 43.51%.

Insider Buying and Selling at Jack Henry & Associates

In related news, Director Laura G. Kelly acquired 1,000 shares of Jack Henry & Associates stock in a transaction on Tuesday, March 14th. The shares were purchased at an average cost of $145.29 per share, for a total transaction of $145,290.00. Following the purchase, the director now directly owns 16,194 shares of the company’s stock, valued at approximately $2,352,826.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on JKHY shares. DA Davidson dropped their price target on shares of Jack Henry & Associates from $188.00 to $180.00 in a research report on Wednesday, April 26th. Morgan Stanley dropped their price objective on shares of Jack Henry & Associates from $185.00 to $175.00 and set an “equal weight” rating for the company in a research report on Thursday, February 9th. Oppenheimer dropped their price objective on shares of Jack Henry & Associates from $181.00 to $176.00 and set an “outperform” rating for the company in a research report on Wednesday, April 19th. Stephens reissued an “equal weight” rating and issued a $185.00 price objective on shares of Jack Henry & Associates in a research report on Wednesday, February 8th. Finally, StockNews.com initiated coverage on shares of Jack Henry & Associates in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $177.40.

Jack Henry & Associates Profile

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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.