Gateway Investment Advisers LLC Takes $749,000 Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Gateway Investment Advisers LLC bought a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,275 shares of the technology company's stock, valued at approximately $749,000.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in Jack Henry & Associates by 1.7% during the third quarter. State Street Corp now owns 3,976,658 shares of the technology company's stock worth $702,039,000 after buying an additional 67,716 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Jack Henry & Associates by 1.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company's stock worth $657,158,000 after acquiring an additional 67,386 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Jack Henry & Associates by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company's stock worth $316,326,000 after acquiring an additional 131,515 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Jack Henry & Associates by 8.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company's stock valued at $152,495,000 after acquiring an additional 66,600 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Jack Henry & Associates by 50.8% in the fourth quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company's stock valued at $136,720,000 after purchasing an additional 263,021 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JKHY has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a "market perform" rating in a report on Thursday, November 7th. William Blair lowered shares of Jack Henry & Associates from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Wells Fargo & Company assumed coverage on Jack Henry & Associates in a research report on Tuesday, January 14th. They issued an "underweight" rating and a $155.00 price objective for the company. Royal Bank of Canada lifted their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the company a "sector perform" rating in a research report on Thursday, November 7th. Finally, StockNews.com cut Jack Henry & Associates from a "buy" rating to a "hold" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Jack Henry & Associates currently has an average rating of "Hold" and an average price target of $186.80.

Insiders Place Their Bets

In related news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the transaction, the insider now owns 138,665 shares in the company, valued at $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.37% of the stock is owned by company insiders.

Jack Henry & Associates Trading Up 0.4 %

NASDAQ:JKHY traded up $0.66 on Friday, reaching $173.16. 391,361 shares of the company's stock were exchanged, compared to its average volume of 421,572. The firm has a market capitalization of $12.63 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 3.24 and a beta of 0.61. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $189.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $174.60 and a 200-day moving average of $174.01.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm had revenue of $600.98 million for the quarter, compared to the consensus estimate of $599.56 million. During the same period in the prior year, the firm earned $1.39 EPS. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts expect that Jack Henry & Associates, Inc. will post 5.81 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 2nd were paid a dividend of $0.55 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.20 annualized dividend and a yield of 1.27%. Jack Henry & Associates's payout ratio is 40.29%.

Jack Henry & Associates Profile

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.