Harbor Capital Advisors Inc. Increases Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Harbor Capital Advisors Inc. grew its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 119.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,209 shares of the technology company's stock after purchasing an additional 5,005 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Jack Henry & Associates were worth $1,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its holdings in shares of Jack Henry & Associates by 1.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 129,618 shares of the technology company's stock worth $22,883,000 after purchasing an additional 2,351 shares in the last quarter. Phillips Wealth Planners LLC bought a new position in Jack Henry & Associates during the 3rd quarter worth approximately $226,000. Conestoga Capital Advisors LLC lifted its stake in shares of Jack Henry & Associates by 0.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 185,070 shares of the technology company's stock valued at $32,672,000 after purchasing an additional 1,658 shares during the period. Jacobson & Schmitt Advisors LLC raised its stake in Jack Henry & Associates by 5.1% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 55,191 shares of the technology company's stock valued at $9,743,000 after buying an additional 2,665 shares during the last quarter. Finally, IRON Financial LLC purchased a new position in Jack Henry & Associates during the third quarter valued at $208,000. 98.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JKHY. Oppenheimer began coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They set an "outperform" rating and a $206.00 target price for the company. Robert W. Baird increased their target price on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Royal Bank of Canada restated a "sector perform" rating and set a $181.00 target price on shares of Jack Henry & Associates in a report on Friday, September 6th. Compass Point initiated coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They issued a "neutral" rating and a $186.00 price target for the company. Finally, Stephens restated an "equal weight" rating and set a $170.00 price target on shares of Jack Henry & Associates in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $185.40.

Jack Henry & Associates Trading Down 2.8 %

Jack Henry & Associates stock traded down $5.12 during mid-day trading on Wednesday, hitting $180.40. The company's stock had a trading volume of 1,436,204 shares, compared to its average volume of 417,856. The firm has a market capitalization of $13.15 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 3.38 and a beta of 0.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a 1 year low of $142.93 and a 1 year high of $189.63. The stock's fifty day moving average is $178.83 and its two-hundred day moving average is $170.37.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.02. The business had revenue of $600.98 million for the quarter, compared to analysts' expectations of $599.56 million. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 earnings per share. On average, analysts anticipate that Jack Henry & Associates, Inc. will post 5.82 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.20 dividend on an annualized basis and a yield of 1.22%. Jack Henry & Associates's payout ratio is currently 42.15%.

Jack Henry & Associates Company 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.