Charles Schwab Investment Management Inc. Acquires 2,324 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Charles Schwab Investment Management Inc. boosted its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 610,742 shares of the technology company’s stock after acquiring an additional 2,324 shares during the period. Charles Schwab Investment Management Inc. owned 0.84% of Jack Henry & Associates worth $107,820,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Strategic Financial Concepts LLC bought a new stake in shares of Jack Henry & Associates during the 2nd quarter valued at about $25,000. Tortoise Investment Management LLC lifted its holdings in Jack Henry & Associates by 76.3% in the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after buying an additional 71 shares during the period. New Covenant Trust Company N.A. bought a new stake in Jack Henry & Associates during the 1st quarter valued at approximately $30,000. Blue Trust Inc. grew its holdings in shares of Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after acquiring an additional 134 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Jack Henry & Associates in the 3rd quarter worth approximately $48,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Stephens reissued an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. Compass Point assumed coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price objective on the stock. Finally, Oppenheimer assumed coverage on shares of Jack Henry & Associates in a report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $188.73.

Jack Henry & Associates Stock Down 0.1 %

JKHY stock opened at $172.39 on Tuesday. The stock has a market capitalization of $12.58 billion, a P/E ratio of 31.57, a P/E/G ratio of 3.25 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11. Jack Henry & Associates, Inc. has a 1-year low of $153.05 and a 1-year high of $189.63. The business has a fifty day moving average price of $179.20 and a 200-day moving average price of $171.31.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The business 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%. Jack Henry & Associates’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 EPS. Equities analysts forecast that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.28%. The ex-dividend date is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio is currently 40.29%.

Insiders Place Their Bets

In related news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction on 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 completion of the sale, the insider now owns 138,665 shares of the company’s stock, valued at $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.37% of the stock is currently owned by insiders.

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.