Great Lakes Advisors LLC Boosts Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Posted by Defense World Staff on Aug 20th, 2023

Great Lakes Advisors LLC grew its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY – Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,064 shares of the technology company’s stock after buying an additional 866 shares during the quarter. Great Lakes Advisors LLC’s holdings in Jack Henry & Associates were worth $3,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in Jack Henry & Associates during the first quarter worth about $104,000. American Century Companies Inc. increased its stake in shares of Jack Henry & Associates by 36.3% during the 1st quarter. American Century Companies Inc. now owns 6,383 shares of the technology company’s stock worth $1,258,000 after purchasing an additional 1,701 shares in the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of Jack Henry & Associates during the 1st quarter worth approximately $208,000. D.A. Davidson & CO. purchased a new stake in Jack Henry & Associates in the 1st quarter valued at approximately $225,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Jack Henry & Associates by 4.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,744 shares of the technology company’s stock valued at $1,920,000 after buying an additional 451 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JKHY. StockNews.com began coverage on Jack Henry & Associates in a report on Thursday. They issued a “hold” rating for the company. Robert W. Baird reduced their target price on shares of Jack Henry & Associates from $176.00 to $164.00 and set a “neutral” rating on the stock in a report on Thursday. TheStreet raised shares of Jack Henry & Associates from a “c+” rating to a “b” rating in a research note on Tuesday. BTIG Research reduced their price objective on shares of Jack Henry & Associates from $200.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group started coverage on shares of Jack Henry & Associates in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $173.00 target price for the company. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $173.08.

View Our Latest Report on Jack Henry & Associates

Jack Henry & Associates Stock Performance

Shares of NASDAQ:JKHY opened at $155.03 on Friday. The business has a 50-day moving average of $166.61 and a two-hundred day moving average of $160.31. The firm has a market capitalization of $11.30 billion, a PE ratio of 30.88, a P/E/G ratio of 4.58 and a beta of 0.65. 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, Inc. has a 12 month low of $139.28 and a 12 month high of $205.21.

Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) last issued its earnings results on Wednesday, August 16th. The technology company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. The business had revenue of $534.63 million during the quarter, compared to analysts’ expectations of $512.78 million. Jack Henry & Associates had a return on equity of 24.39% and a net margin of 17.65%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 EPS. As a group, research analysts forecast that Jack Henry & Associates, Inc. will post 5 earnings per share for the current year.

Insider Activity

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 shares were acquired at an average price of $145.51 per share, for a total transaction of $291,020.00. Following the acquisition, the director now owns 36,950 shares of the company’s stock, valued at approximately $5,376,594.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.58% of the company’s stock.

Jack Henry & Associates Company Profile

(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.