Principal Financial Group Inc. Increases Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Principal Financial Group Inc. boosted its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 21.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 341,460 shares of the technology company's stock after buying an additional 59,450 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Jack Henry & Associates worth $60,281,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in JKHY. Duality Advisers LP bought a new position in shares of Jack Henry & Associates during the 1st quarter valued at $870,000. Empirical Finance LLC grew its holdings in shares of Jack Henry & Associates by 3.7% in the first quarter. Empirical Finance LLC now owns 2,482 shares of the technology company's stock worth $431,000 after acquiring an additional 88 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Jack Henry & Associates by 2.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,583 shares of the technology company's stock valued at $1,665,000 after acquiring an additional 187 shares during the period. Empowered Funds LLC purchased a new stake in Jack Henry & Associates in the 1st quarter worth approximately $838,000. Finally, SG Americas Securities LLC lifted its position in shares of Jack Henry & Associates by 230.9% in the first quarter. SG Americas Securities LLC now owns 39,724 shares of the technology company's stock valued at $6,901,000 after acquiring an additional 27,719 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JKHY has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted 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 report on Thursday. William Blair cut shares of Jack Henry & Associates from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. UBS Group boosted their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday. Robert W. Baird boosted their price target on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, Oppenheimer began coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They set an "outperform" rating and a $206.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Jack Henry & Associates currently has a consensus rating of "Hold" and an average target price of $188.73.

Jack Henry & Associates Stock Performance

Shares of JKHY traded down $0.20 on Friday, reaching $179.77. 560,993 shares of the stock traded hands, compared to its average volume of 482,056. The stock's 50-day moving average price is $179.26 and its 200-day moving average price is $170.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.51 and a quick ratio of 1.00. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 3.31 and a beta of 0.63. Jack Henry & Associates, Inc. has a 12 month low of $146.46 and a 12 month high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.02. The business had revenue of $600.98 million during the quarter, compared to the consensus estimate of $599.56 million. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The firm's revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 earnings per share. Equities analysts forecast that Jack Henry & Associates, Inc. will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates's dividend payout ratio is presently 40.29%.

Jack Henry & Associates Profile

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.