Raymond James Financial Inc. Takes $132.82 Million Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Raymond James Financial Inc. acquired a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 757,655 shares of the technology company's stock, valued at approximately $132,817,000. Raymond James Financial Inc. owned 1.04% of Jack Henry & Associates at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bridges Investment Management Inc. increased its stake in shares of Jack Henry & Associates by 1.7% in the 3rd quarter. Bridges Investment Management Inc. now owns 3,256 shares of the technology company's stock valued at $575,000 after purchasing an additional 55 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Jack Henry & Associates by 1.2% in the third quarter. D.A. Davidson & CO. now owns 4,969 shares of the technology company's stock valued at $877,000 after buying an additional 61 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Jack Henry & Associates by 0.7% during the 3rd quarter. Townsquare Capital LLC now owns 9,601 shares of the technology company's stock worth $1,695,000 after buying an additional 67 shares during the period. Willis Investment Counsel lifted its position in shares of Jack Henry & Associates by 1.9% during the 4th quarter. Willis Investment Counsel now owns 3,650 shares of the technology company's stock valued at $640,000 after buying an additional 68 shares in the last quarter. Finally, Torray Investment Partners LLC grew its stake in Jack Henry & Associates by 0.7% in the 4th quarter. Torray Investment Partners LLC now owns 10,446 shares of the technology company's stock valued at $1,831,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds own 98.75% of the company's stock.

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Analyst Ratings Changes

JKHY has been the subject of a number of research analyst reports. William Blair restated an "outperform" rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. Northcoast Research lowered shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research note on Monday. StockNews.com lowered shares of Jack Henry & Associates from a "buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company initiated coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They set an "underweight" rating and a $155.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $186.80.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY traded down $3.54 during midday trading on Wednesday, hitting $173.16. The company had a trading volume of 842,740 shares, compared to its average volume of 665,517. The business's 50-day simple moving average is $173.78 and its 200-day simple moving average is $176.03. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of 31.26, a price-to-earnings-growth ratio of 3.36 and a beta of 0.65. 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, Inc. has a twelve month low of $157.00 and a twelve month high of $196.00.

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

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th will be paid a $0.58 dividend. This is a boost from Jack Henry & Associates's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $2.32 annualized dividend and a dividend yield of 1.34%. Jack Henry & Associates's dividend payout ratio is 41.88%.

Jack Henry & Associates Company 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.