JPMorgan Chase & Co. Acquires 131,515 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

JPMorgan Chase & Co. boosted its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,791,810 shares of the technology company's stock after buying an additional 131,515 shares during the period. JPMorgan Chase & Co. owned 2.46% of Jack Henry & Associates worth $316,326,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in JKHY. State Street Corp boosted its position in Jack Henry & Associates by 1.7% during the 3rd quarter. State Street Corp now owns 3,976,658 shares of the technology company's stock worth $702,039,000 after acquiring an additional 67,716 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position 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 valued at $657,158,000 after purchasing an additional 67,386 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Jack Henry & Associates by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company's stock worth $175,342,000 after buying an additional 23,617 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Jack Henry & Associates by 8.4% in the third quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company's stock valued at $152,495,000 after buying an additional 66,600 shares during the period. Finally, Raymond James & Associates grew its holdings in Jack Henry & Associates by 3.2% during the third quarter. Raymond James & Associates now owns 631,974 shares of the technology company's stock worth $111,569,000 after acquiring an additional 19,846 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JKHY has been the subject of several research reports. UBS Group raised their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a "sector perform" rating in a report on Thursday, November 7th. Oppenheimer began coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They issued an "outperform" rating and a $206.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a "market perform" rating in a research note on Thursday, November 7th. Finally, William Blair lowered Jack Henry & Associates from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $189.00.

Jack Henry & Associates Stock Down 1.0 %

Jack Henry & Associates stock traded down $1.80 during mid-day trading on Monday, hitting $175.08. The company's stock had a trading volume of 275,834 shares, compared to its average volume of 473,205. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $189.63. The company has a market cap of $12.77 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11. The firm's 50 day moving average is $177.36 and its 200 day moving average is $173.21.

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

Jack Henry & Associates Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, December 2nd. Jack Henry & Associates's dividend payout ratio is currently 40.29%.

Insider Activity

In related news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the sale, the insider now owns 138,665 shares of the company's stock, valued at approximately $23,756,087.80. This trade represents a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

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.