Ritholtz Wealth Management Raises Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Ritholtz Wealth Management boosted its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 5.2% in the 3rd quarter, Holdings Channel reports. The firm owned 2,612 shares of the technology company’s stock after acquiring an additional 129 shares during the quarter. Ritholtz Wealth Management’s holdings in Jack Henry & Associates were worth $461,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Jack Henry & Associates by 188.4% in the second quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock valued at $46,819,000 after acquiring an additional 184,210 shares during the period. Mackenzie Financial Corp grew its position in shares of Jack Henry & Associates by 51.4% during the 2nd quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after purchasing an additional 171,041 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Jack Henry & Associates by 25.6% in the first quarter. TD Asset Management Inc now owns 684,363 shares of the technology company’s stock worth $118,894,000 after purchasing an additional 139,582 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Jack Henry & Associates by 6,680.1% in the second quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after buying an additional 113,696 shares in the last quarter. Finally, Tandem Investment Advisors Inc. boosted its stake in Jack Henry & Associates by 20.4% during the second quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock valued at $83,496,000 after buying an additional 85,175 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JKHY. Compass Point started coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 target price on the stock. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Evercore ISI boosted their price target on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods raised their price objective on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer initiated coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 target price for the company. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Jack Henry & Associates presently has a consensus rating of “Hold” and a consensus target price of $184.00.

Jack Henry & Associates Stock Up 0.5 %

Shares of NASDAQ:JKHY opened at $185.67 on Thursday. The stock has a market capitalization of $13.54 billion, a P/E ratio of 35.84, a price-to-earnings-growth ratio of 3.35 and a beta of 0.64. The stock’s 50-day moving average price is $173.72 and its 200-day moving average price is $168.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a 12-month low of $136.57 and a 12-month high of $186.77.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.08. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The business had revenue of $559.91 million for the quarter, compared to analyst estimates of $563.37 million. During the same period last year, the company earned $1.34 EPS. On average, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.82 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 42.47%.

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.