BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 60.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,962 shares of the technology company’s stock after acquiring an additional 5,274 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Jack Henry & Associates were worth $2,318,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Jack Henry & Associates by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,688,433 shares of the technology company’s stock valued at $1,509,441,000 after acquiring an additional 39,456 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Jack Henry & Associates by 1.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company’s stock worth $657,158,000 after purchasing an additional 67,386 shares during the period. CIBC Private Wealth Group LLC grew its position in Jack Henry & Associates by 1.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,942,887 shares of the technology company’s stock valued at $317,487,000 after buying an additional 24,910 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Jack Henry & Associates by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company’s stock valued at $175,342,000 after acquiring an additional 23,617 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Jack Henry & Associates by 32.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 705,582 shares of the technology company’s stock valued at $115,299,000 after acquiring an additional 171,477 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Trading Up 1.1 %

Shares of Jack Henry & Associates stock opened at $175.99 on Friday. Jack Henry & Associates, Inc. has a 1 year low of $136.57 and a 1 year high of $178.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day moving average price of $170.26 and a 200 day moving average price of $167.86. The company has a market capitalization of $12.83 billion, a P/E ratio of 33.97, a P/E/G ratio of 3.09 and a beta of 0.64.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The company had revenue of $559.91 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $1.34 earnings per share. Sell-side analysts anticipate that Jack Henry & Associates, Inc. will post 5.82 EPS for the current fiscal 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 paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.20 annualized dividend and a dividend yield of 1.25%. Jack Henry & Associates’s dividend payout ratio is currently 42.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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 price objective for the company. Keefe, Bruyette & Woods lifted their price target on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, August 22nd. Evercore ISI increased their price objective on Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Royal Bank of Canada restated a “sector perform” rating and set a $181.00 target price on shares of Jack Henry & Associates in a research report on Friday, September 6th. Finally, StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. 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 stock. Based on data from MarketBeat.com, Jack Henry & Associates has an average rating of “Hold” and an average price target of $176.55.

Jack Henry & Associates Company 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.