Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Purchased by American International Group Inc.

Posted by on Jun 4th, 2023

American International Group Inc. increased its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY – Get Rating) by 20.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,414 shares of the technology company’s stock after buying an additional 4,197 shares during the quarter. American International Group Inc.’s holdings in Jack Henry & Associates were worth $4,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Baird Financial Group Inc. grew 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 worth $48,633,000 after acquiring an additional 207,243 shares during the last quarter. Vanguard Group Inc. grew its position in Jack Henry & Associates by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,800,903 shares of the technology company’s stock worth $1,604,141,000 after purchasing an additional 133,741 shares during the last quarter. National Pension Service purchased a new stake in Jack Henry & Associates during the 1st quarter worth approximately $25,616,000. Franklin Resources Inc. increased its stake in Jack Henry & Associates by 136.7% during the 4th quarter. Franklin Resources Inc. now owns 223,440 shares of the technology company’s stock valued at $39,227,000 after purchasing an additional 129,035 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in shares of Jack Henry & Associates by 100.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 237,703 shares of the technology company’s stock worth $41,719,000 after buying an additional 119,087 shares during the last quarter. 90.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JKHY has been the topic of a number of research analyst reports. Oppenheimer dropped 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. StockNews.com started coverage on Jack Henry & Associates in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Morgan Stanley decreased their target price on Jack Henry & Associates from $185.00 to $175.00 and set an “equal weight” rating for the company in a report on Thursday, February 9th. DA Davidson cut their price target on shares of Jack Henry & Associates from $188.00 to $180.00 in a report on Wednesday, April 26th. Finally, Bank of America began coverage on shares of Jack Henry & Associates in a research note on Thursday. They set a “neutral” rating and a $156.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $175.45.

Insider Transactions at Jack Henry & Associates

In related news, Director Laura G. Kelly purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were purchased at an average price of $145.29 per share, with a total value of $145,290.00. Following the purchase, the director now owns 16,194 shares of the company’s stock, valued at $2,352,826.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Laura G. Kelly acquired 1,000 shares of the firm’s stock in a transaction 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 acquisition, the director now directly owns 16,194 shares in the company, valued at approximately $2,352,826.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas A. Wimsett bought 2,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was bought at an average price of $145.51 per share, for a total transaction of $291,020.00. Following the transaction, the director now owns 36,950 shares of the company’s stock, valued at $5,376,594.50. The disclosure for this purchase can be found here. Corporate insiders own 0.58% of the company’s stock.

Jack Henry & Associates Stock Performance

JKHY opened at $152.74 on Friday. The firm has a fifty day moving average price of $152.53 and a 200 day moving average price of $166.41. Jack Henry & Associates, Inc. has a 1 year low of $139.28 and a 1 year high of $212.62. The stock has a market cap of $11.13 billion, a P/E ratio of 31.95, a P/E/G ratio of 3.52 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.52 and a quick ratio of 1.52.

Jack Henry & Associates (NASDAQ:JKHY – Get Rating) last posted its earnings results on Tuesday, May 2nd. The technology company reported $1.12 earnings per share (EPS) 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 business had revenue of $508.55 million for the quarter, compared to analyst estimates of $500.76 million. During the same period in the prior year, the company posted $1.16 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Jack Henry & Associates, Inc. will post 4.83 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 26th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Thursday, May 25th. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 43.51%.

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.

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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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