SVB Wealth LLC Decreases Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Posted by Defense World Staff on May 28th, 2023

SVB Wealth LLC trimmed its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY – Get Rating) by 38.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,491 shares of the technology company’s stock after selling 926 shares during the quarter. SVB Wealth LLC’s holdings in Jack Henry & Associates were worth $262,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Baird Financial Group Inc. raised its stake in shares of Jack Henry & Associates by 523.8% during the first quarter. Baird Financial Group Inc. now owns 246,806 shares of the technology company’s stock valued at $48,633,000 after acquiring an additional 207,243 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Jack Henry & Associates by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,800,903 shares of the technology company’s stock worth $1,604,141,000 after acquiring an additional 133,741 shares during the period. National Pension Service acquired a new position in shares of Jack Henry & Associates during the 1st quarter worth about $25,616,000. Jupiter Asset Management Ltd. raised its holdings in Jack Henry & Associates by 100.4% in the 4th quarter. Jupiter Asset Management Ltd. now owns 237,703 shares of the technology company’s stock valued at $41,719,000 after acquiring an additional 119,087 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Jack Henry & Associates by 15.7% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 813,406 shares of the technology company’s stock valued at $148,260,000 after buying an additional 110,300 shares during the period. 90.26% of the stock is owned by institutional investors.

Jack Henry & Associates Stock Performance

Shares of NASDAQ:JKHY opened at $148.56 on Friday. The company’s 50 day moving average price is $152.37 and its two-hundred day moving average price is $167.30. Jack Henry & Associates, Inc. has a 12-month low of $139.28 and a 12-month high of $212.62. The firm has a market cap of $10.83 billion, a PE ratio of 31.08, a PEG ratio of 3.42 and a beta of 0.63. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.24.

Jack Henry & Associates (NASDAQ:JKHY – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The technology company reported $1.12 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $508.55 million during the quarter, compared to analysts’ expectations of $500.76 million. During the same period in the prior year, the company posted $1.16 earnings per share. Jack Henry & Associates’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts predict that Jack Henry & Associates, Inc. will post 4.82 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 26th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $2.08 annualized dividend and a dividend yield of 1.40%. Jack Henry & Associates’s payout ratio is 43.51%.

Wall Street Analyst Weigh In

JKHY has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Jack Henry & Associates from $185.00 to $164.00 and set a “market perform” rating on the stock in a report on Tuesday, April 11th. TheStreet downgraded shares of Jack Henry & Associates from a “b-” rating to a “c+” rating in a report on Friday, May 19th. Oppenheimer decreased their price objective on shares of Jack Henry & Associates from $181.00 to $176.00 and set an “outperform” rating on the stock in a report on Wednesday, April 19th. Robert W. Baird boosted their target price on shares of Jack Henry & Associates from $168.00 to $176.00 in a report on Wednesday, May 3rd. Finally, Morgan Stanley decreased 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 note on Thursday, February 9th. Eight equities 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 stock has an average rating of “Hold” and a consensus target price of $177.40.

Insider Transactions at Jack Henry & Associates

In related news, Director Laura G. Kelly purchased 1,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was acquired at an average price of $145.29 per share, with a total value of $145,290.00. Following the purchase, the director now directly owns 16,194 shares in the company, valued at $2,352,826.26. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

About Jack Henry & Associates

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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.