Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can raised its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 137,237 shares of the technology company's stock after purchasing an additional 5,188 shares during the quarter. Bank of Montreal Can owned 0.19% of Jack Henry & Associates worth $24,152,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of JKHY. Price T Rowe Associates Inc. MD increased its stake in Jack Henry & Associates by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 99,707 shares of the technology company's stock valued at $17,323,000 after buying an additional 1,397 shares during the period. Comerica Bank increased its stake in shares of Jack Henry & Associates by 17.2% during the first quarter. Comerica Bank now owns 40,213 shares of the technology company's stock worth $6,986,000 after acquiring an additional 5,912 shares during the period. Swedbank AB purchased a new position in Jack Henry & Associates during the first quarter worth about $5,530,000. Atria Investments Inc lifted its position in Jack Henry & Associates by 11.2% in the first quarter. Atria Investments Inc now owns 20,744 shares of the technology company's stock valued at $3,604,000 after purchasing an additional 2,091 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Jack Henry & Associates by 318.0% in the 1st quarter. Cetera Investment Advisers now owns 15,843 shares of the technology company's stock valued at $2,752,000 after purchasing an additional 12,053 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on JKHY shares. StockNews.com downgraded Jack Henry & Associates from a "buy" rating to a "hold" rating in a research note on Tuesday. Oppenheimer initiated coverage on Jack Henry & Associates in a research report on Tuesday, October 1st. They issued an "outperform" rating and a $206.00 price objective for the company. UBS Group boosted their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Stephens reiterated an "equal weight" rating and issued a $170.00 price target on shares of Jack Henry & Associates in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a "market perform" rating in a research note on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $188.73.

Insider Buying and Selling at Jack Henry & Associates

In related news, insider David B. Foss sold 18,770 shares of the business's 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 sale, the insider now directly owns 138,665 shares in the company, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.37% of the stock is currently owned by insiders.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock traded up $2.22 during mid-day trading on Friday, hitting $176.18. 573,129 shares of the company were exchanged, compared to its average volume of 460,715. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11. Jack Henry & Associates, Inc. has a 12-month low of $154.77 and a 12-month high of $189.63. The business's 50 day simple moving average is $179.07 and its two-hundred day simple moving average is $171.49. The company has a market capitalization of $12.85 billion, a P/E ratio of 32.27, a PEG ratio of 3.28 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.02. The company had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. Analysts forecast that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 annualized dividend and a yield of 1.25%. Jack Henry & Associates's payout ratio is currently 40.29%.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.