Jack Henry & Associates, Inc. (NASDAQ:JKHY) Holdings Lifted by Verition Fund Management LLC

Verition Fund Management LLC raised its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 735.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,816 shares of the technology company's stock after purchasing an additional 17,443 shares during the period. Verition Fund Management LLC's holdings in Jack Henry & Associates were worth $3,498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake in 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 acquiring an additional 67,386 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Jack Henry & Associates by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company's stock worth $175,342,000 after purchasing an additional 23,617 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Jack Henry & Associates by 8.4% in the third quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company's stock worth $152,495,000 after purchasing an additional 66,600 shares in the last quarter. Raymond James & Associates increased its holdings in Jack Henry & Associates by 3.2% in the third quarter. Raymond James & Associates now owns 631,974 shares of the technology company's stock valued at $111,569,000 after buying an additional 19,846 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Jack Henry & Associates by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 610,742 shares of the technology company's stock valued at $107,820,000 after buying an additional 2,324 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Jack Henry & Associates

In related news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value 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 trade represents a 11.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.37% of the company's stock.

Jack Henry & Associates Price Performance

Shares of Jack Henry & Associates stock traded down $2.97 on Wednesday, hitting $172.36. The company had a trading volume of 1,265,547 shares, compared to its average volume of 466,332. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week high of $189.63. 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 company has a market cap of $12.58 billion, a PE ratio of 31.73, a PEG ratio of 3.31 and a beta of 0.61. The business has a 50-day simple moving average of $179.12 and a 200-day simple moving average of $171.61.

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

Jack Henry & Associates Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 annualized dividend and a dividend yield of 1.28%. Jack Henry & Associates's dividend payout ratio (DPR) is 40.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their price objective 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. William Blair lowered shares of Jack Henry & Associates from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods increased their price objective on shares of 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. StockNews.com downgraded Jack Henry & Associates from a "buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, Robert W. Baird increased their price target on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Jack Henry & Associates has a consensus rating of "Hold" and an average target price of $188.73.

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.