Bridges Investment Management Inc. Takes Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Bridges Investment Management Inc. acquired a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) in the 2nd quarter, HoldingsChannel reports. The firm acquired 3,201 shares of the technology company’s stock, valued at approximately $531,000.

A number of other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Jack Henry & Associates during the 2nd quarter worth approximately $25,000. Tortoise Investment Management LLC grew its position 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 acquiring an additional 71 shares during the period. New Covenant Trust Company N.A. purchased a new position in Jack Henry & Associates in the first quarter worth approximately $30,000. Blue Trust Inc. increased its stake in Jack Henry & Associates by 148.9% during the second 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 last quarter. Finally, Riverview Trust Co purchased a new stake in Jack Henry & Associates in the first quarter valued at $51,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in 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. Keefe, Bruyette & Woods increased their price objective on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday, August 22nd. Evercore ISI boosted their price objective on Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $181.00 price target on shares of Jack Henry & Associates in a research report on Friday, September 6th. Finally, Compass Point initiated coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $176.55.

Jack Henry & Associates Trading Down 1.1 %

Shares of NASDAQ:JKHY opened at $173.59 on Friday. Jack Henry & Associates, Inc. has a 52 week low of $136.57 and a 52 week high of $178.37. The company’s 50 day moving average is $169.70 and its two-hundred day moving average is $167.83. The company has a market cap of $12.65 billion, a PE ratio of 33.51, a P/E/G ratio of 3.09 and a beta of 0.64. 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 (NASDAQ:JKHY) last posted its earnings results on Tuesday, August 20th. The technology company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.30 by $0.08. The firm had revenue of $559.91 million for the quarter, compared to analyst estimates of $563.37 million. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. During the same quarter in the prior year, the company posted $1.34 earnings per share. Equities analysts predict that Jack Henry & Associates, Inc. will post 5.79 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, September 6th. Jack Henry & Associates’s payout ratio is 42.47%.

Jack Henry & Associates Profile

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.