Kayne Anderson Rudnick Investment Management LLC Purchases 67,386 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Kayne Anderson Rudnick Investment Management LLC increased its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,958,305 shares of the technology company’s stock after purchasing an additional 67,386 shares during the quarter. Jack Henry & Associates makes up approximately 1.6% of Kayne Anderson Rudnick Investment Management LLC’s holdings, making the stock its 14th largest holding. Kayne Anderson Rudnick Investment Management LLC owned about 0.05% of Jack Henry & Associates worth $657,158,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new position in Jack Henry & Associates during the 4th quarter valued at $11,319,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Jack Henry & Associates by 81.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,747 shares of the technology company’s stock valued at $449,000 after purchasing an additional 1,229 shares in the last quarter. UBS Group AG increased its position in shares of Jack Henry & Associates by 23.7% during the fourth quarter. UBS Group AG now owns 188,142 shares of the technology company’s stock valued at $30,744,000 after buying an additional 36,032 shares during the period. D.A. Davidson & CO. bought a new position in Jack Henry & Associates in the fourth quarter worth about $209,000. Finally, Corient Private Wealth LLC lifted its holdings in Jack Henry & Associates by 2.3% in the fourth quarter. Corient Private Wealth LLC now owns 12,410 shares of the technology company’s stock worth $2,028,000 after buying an additional 276 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of Jack Henry & Associates stock opened at $173.59 on Friday. Jack Henry & Associates, Inc. has a 1 year low of $136.57 and a 1 year high of $178.37. The firm’s 50-day moving average is $169.70 and its 200 day moving average is $167.86. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 3.09 and a beta of 0.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00.

Jack Henry & Associates (NASDAQ:JKHY) last issued its 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. The firm had revenue of $559.91 million for the quarter, compared to the consensus estimate of $563.37 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Sell-side analysts anticipate that Jack Henry & Associates, Inc. will post 5.79 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on JKHY. Evercore ISI upped their target price on Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Royal Bank of Canada restated 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. StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods boosted their target price on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, August 22nd. Finally, Compass Point initiated coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Jack Henry & Associates presently has a consensus rating of “Hold” and an average price target of $176.55.

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.