KLP Kapitalforvaltning AS Takes Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

KLP Kapitalforvaltning AS bought a new position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 25,400 shares of the technology company's stock, valued at approximately $4,453,000.

A number of other large investors have also added to or reduced their stakes in JKHY. State Street Corp grew its holdings in shares of Jack Henry & Associates by 1.7% in the third 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. JPMorgan Chase & Co. grew its stake in shares of Jack Henry & Associates by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company's stock valued at $316,326,000 after purchasing an additional 131,515 shares during the period. Handelsbanken Fonder AB increased its position in shares of Jack Henry & Associates by 7.1% during the 4th quarter. Handelsbanken Fonder AB now owns 925,400 shares of the technology company's stock valued at $162,223,000 after purchasing an additional 61,600 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Jack Henry & Associates by 50.8% in the 4th quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company's stock worth $136,720,000 after purchasing an additional 263,021 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Jack Henry & Associates in the fourth quarter worth approximately $132,817,000. Institutional investors own 98.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. William Blair reiterated an "outperform" rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. Wells Fargo & Company started coverage on Jack Henry & Associates in a report on Tuesday, January 14th. They issued an "underweight" rating and a $155.00 target price on the stock. Finally, Northcoast Research downgraded Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $186.80.

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Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY traded down $0.73 during trading on Friday, hitting $178.59. 327,587 shares of the company's stock were exchanged, compared to its average volume of 518,254. The business's 50-day simple moving average is $174.65 and its 200 day simple moving average is $176.32. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 3.36 and a beta of 0.65. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $196.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. As a group, equities analysts predict that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.30%. This is a boost from Jack Henry & Associates's previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 6th. Jack Henry & Associates's payout ratio is 41.88%.

Jack Henry & Associates Profile

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.