Trust Point Inc. Takes $295,000 Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Trust Point Inc. bought a new stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,683 shares of the technology company's stock, valued at approximately $295,000.

Several other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Jack Henry & Associates by 7.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company's stock valued at $316,326,000 after buying an additional 131,515 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Jack Henry & Associates in the third quarter valued at about $618,000. Nordea Investment Management AB increased its stake in shares of Jack Henry & Associates by 50.8% during the fourth quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company's stock worth $136,720,000 after acquiring an additional 263,021 shares during the period. Pensionfund Sabic purchased a new position in Jack Henry & Associates during the fourth quarter worth about $1,315,000. Finally, XTX Topco Ltd lifted its position in Jack Henry & Associates by 137.3% in the third quarter. XTX Topco Ltd now owns 7,761 shares of the technology company's stock valued at $1,370,000 after purchasing an additional 4,491 shares during the period. Institutional investors and hedge funds own 98.75% of the company's stock.

Insiders Place Their Bets

In related news, insider David B. Foss sold 18,770 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares of the company's stock, valued at approximately $23,756,087.80. This represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

JKHY has been the subject of a number of analyst reports. William Blair downgraded Jack Henry & Associates from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Wells Fargo & Company began coverage on Jack Henry & Associates in a report on Tuesday, January 14th. They issued an "underweight" rating and a $155.00 target price for the company. Royal Bank of Canada upped their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 7th. StockNews.com cut shares of Jack Henry & Associates from a "buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, Robert W. Baird boosted their price objective on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $186.80.

Jack Henry & Associates Price Performance

Shares of JKHY stock traded down $0.15 during trading hours on Monday, hitting $173.66. The company's stock had a trading volume of 454,923 shares, compared to its average volume of 602,401. The company has a current ratio of 3.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month high of $189.63. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 3.46 and a beta of 0.61. The business has a fifty day moving average of $174.77 and a 200-day moving average of $174.87.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. As a group, equities research analysts anticipate 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 will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.34%. This is a positive change from Jack Henry & Associates's previous quarterly dividend of $0.55. Jack Henry & Associates's dividend payout ratio is 39.71%.

About Jack Henry & Associates

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.