Daiwa Securities Group Inc. Sells 652 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Posted by on Jul 29th, 2023

Daiwa Securities Group Inc. reduced its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Free Report) by 9.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,071 shares of the technology company’s stock after selling 652 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Jack Henry & Associates were worth $915,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in Jack Henry & Associates by 16.2% in the 4th quarter. First Horizon Advisors Inc. now owns 430 shares of the technology company’s stock worth $75,000 after acquiring an additional 60 shares during the last quarter. Moors & Cabot Inc. raised its stake in Jack Henry & Associates by 5.1% during the 4th quarter. Moors & Cabot Inc. now owns 1,308 shares of the technology company’s stock valued at $230,000 after buying an additional 64 shares during the last quarter. Cardinal Capital Management raised its stake in Jack Henry & Associates by 0.5% during the 1st quarter. Cardinal Capital Management now owns 12,845 shares of the technology company’s stock valued at $1,936,000 after buying an additional 65 shares during the last quarter. Apollon Wealth Management LLC raised its stake in Jack Henry & Associates by 5.1% during the 4th quarter. Apollon Wealth Management LLC now owns 1,432 shares of the technology company’s stock valued at $251,000 after buying an additional 69 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Jack Henry & Associates by 1.5% during the 4th quarter. Benjamin Edwards Inc. now owns 5,618 shares of the technology company’s stock valued at $986,000 after acquiring an additional 82 shares during the period. 92.03% of the stock is owned by institutional investors.

Jack Henry & Associates Price Performance

Shares of JKHY opened at $168.22 on Friday. The company has a market cap of $12.26 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 4.38 and a beta of 0.65. Jack Henry & Associates, Inc. has a twelve month low of $139.28 and a twelve month high of $212.62. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $161.88 and a two-hundred day moving average of $161.75.

Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The technology company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $508.55 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. As a group, analysts predict that Jack Henry & Associates, Inc. will post 4.86 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, May 26th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 25th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.24%. Jack Henry & Associates’s dividend payout ratio is currently 43.51%.

Insiders Place Their Bets

In other Jack Henry & Associates news, Director Thomas A. Wimsett bought 2,000 shares of Jack Henry & Associates stock in a transaction that occurred on Thursday, May 25th. The stock was purchased at an average price of $145.51 per share, with a total value of $291,020.00. Following the completion of the acquisition, the director now directly owns 36,950 shares in the company, valued at approximately $5,376,594.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JKHY. TheStreet downgraded shares of Jack Henry & Associates from a “b-” rating to a “c+” rating in a research report on Friday, May 19th. Bank of America began coverage on shares of Jack Henry & Associates in a research report on Thursday, June 1st. They set a “neutral” rating and a $156.00 price objective for the company. Robert W. Baird boosted their price objective on shares of Jack Henry & Associates from $168.00 to $176.00 in a research report on Wednesday, May 3rd. StockNews.com started coverage on shares of Jack Henry & Associates in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods dropped 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. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.15.

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.

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

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