DnB Asset Management AS Boosts Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Posted by Defense World Staff on Jul 8th, 2023

DnB Asset Management AS increased its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,518 shares of the technology company’s stock after buying an additional 256 shares during the quarter. DnB Asset Management AS’s holdings in Jack Henry & Associates were worth $2,037,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JKHY. Morgan Stanley raised its position in shares of Jack Henry & Associates by 117.1% during the fourth quarter. Morgan Stanley now owns 1,709,702 shares of the technology company’s stock valued at $300,155,000 after buying an additional 922,054 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Jack Henry & Associates by 17.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,596,568 shares of the technology company’s stock valued at $280,294,000 after purchasing an additional 235,577 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Jack Henry & Associates by 523.8% in the first quarter. Baird Financial Group Inc. now owns 246,806 shares of the technology company’s stock valued at $48,633,000 after purchasing an additional 207,243 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Jack Henry & Associates in the fourth quarter valued at $27,408,000. Finally, Vanguard Group Inc. grew its holdings 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 valued at $1,604,141,000 after purchasing an additional 133,741 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Jack Henry & Associates Stock Down 0.3 %

Shares of JKHY opened at $163.01 on Friday. The firm has a market capitalization of $11.88 billion, a P/E ratio of 34.10, a P/E/G ratio of 4.27 and a beta of 0.65. Jack Henry & Associates, Inc. has a 12-month low of $139.28 and a 12-month high of $212.62. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $157.21 and a 200-day moving average price of $162.57.

Jack Henry & Associates (NASDAQ:JKHY – Free Report) last issued its earnings results on Tuesday, May 2nd. The technology company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The firm had revenue of $508.55 million during the quarter, compared to analyst estimates of $500.76 million. Jack Henry & Associates had a net margin of 17.24% and a return on equity of 23.71%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. Equities research analysts expect that Jack Henry & Associates, Inc. will post 4.86 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 26th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, May 25th. Jack Henry & Associates’s dividend payout ratio is currently 43.51%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on JKHY shares. Oppenheimer cut their target price on shares of Jack Henry & Associates from $181.00 to $176.00 and set an “outperform” rating for the company in a report on Wednesday, April 19th. Keefe, Bruyette & Woods cut their target price on shares of Jack Henry & Associates from $185.00 to $164.00 and set a “market perform” rating for the company in a report on Tuesday, April 11th. Robert W. Baird raised their target price on shares of Jack Henry & Associates from $168.00 to $176.00 in a report on Wednesday, May 3rd. DA Davidson cut their target price 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, June 1st. They set a “neutral” rating and a $156.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $176.08.

Insider Activity

In related news, Director Thomas A. Wimsett bought 2,000 shares of the stock in a transaction dated Thursday, May 25th. The stock was purchased at an average cost of $145.51 per share, with a total value of $291,020.00. Following the completion of the purchase, the director now owns 36,950 shares of the company’s stock, valued at $5,376,594.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.58% of the company’s stock.

About Jack Henry & Associates

(Free Report)

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology and services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The company offers information and transaction processing solutions for banks ranging from community to multi-billion-dollar asset institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.