Arrowstreet Capital Limited Partnership lifted its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 406.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,447 shares of the technology company's stock after acquiring an additional 279,628 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.48% of Jack Henry & Associates worth $61,083,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of JKHY. Allstate Corp acquired a new stake in Jack Henry & Associates in the fourth quarter worth $359,000. Brown Brothers Harriman & Co. increased its position in shares of Jack Henry & Associates by 603.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the technology company's stock valued at $64,000 after buying an additional 314 shares in the last quarter. DnB Asset Management AS raised its stake in Jack Henry & Associates by 5.9% during the 4th quarter. DnB Asset Management AS now owns 12,442 shares of the technology company's stock worth $2,181,000 after buying an additional 688 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Jack Henry & Associates by 10.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,901 shares of the technology company's stock worth $509,000 after acquiring an additional 269 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Jack Henry & Associates by 17.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 58,734 shares of the technology company's stock valued at $10,296,000 after acquiring an additional 8,574 shares during the period. Institutional investors own 98.75% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on JKHY shares. Northcoast Research cut Jack Henry & Associates from a "buy" rating to a "neutral" rating in a report on Monday, March 10th. Wells Fargo & Company started coverage on shares of Jack Henry & Associates in a research report on Tuesday, January 14th. They set an "underweight" rating and a $155.00 price objective for the company. The Goldman Sachs Group raised shares of Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 target price for the company in a research note on Wednesday. Finally, William Blair restated an "outperform" rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $186.45.
View Our Latest Stock Analysis on Jack Henry & Associates
Jack Henry & Associates Stock Performance
NASDAQ:JKHY traded down $11.98 during mid-day trading on Friday, hitting $172.62. The stock had a trading volume of 879,744 shares, compared to its average volume of 525,259. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month high of $196.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 3.36 and a beta of 0.65. The company's 50 day simple moving average is $175.42 and its 200 day simple moving average is $176.54.
Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. On average, equities research analysts forecast that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.
Jack Henry & Associates Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 6th were issued a dividend of $0.58 per share. This is an increase from Jack Henry & Associates's previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 6th. This represents a $2.32 annualized dividend and a dividend yield of 1.34%. Jack Henry & Associates's payout ratio is presently 41.88%.
Jack Henry & Associates Profile
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Free Report)
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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