New Wave Wealth Advisors LLC Buys Shares of 1,644 Jack Henry & Associates, Inc. (NASDAQ:JKHY)

New Wave Wealth Advisors LLC purchased a new stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) in the second quarter, HoldingsChannel reports. The firm purchased 1,644 shares of the technology company’s stock, valued at approximately $273,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new stake in Jack Henry & Associates in the 2nd quarter valued at about $25,000. Tortoise Investment Management LLC grew its position in shares of Jack Henry & Associates by 76.3% in the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after purchasing an additional 71 shares during the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of Jack Henry & Associates during the 1st quarter worth approximately $30,000. Blue Trust Inc. raised its position 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 purchasing an additional 134 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Jack Henry & Associates during the 1st quarter worth approximately $51,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on JKHY. Keefe, Bruyette & Woods raised their price target on 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $181.00 price objective on shares of Jack Henry & Associates in a research report on Friday, September 6th. Evercore ISI boosted their target price on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Compass Point started coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. Finally, StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Jack Henry & Associates currently has an average rating of “Hold” and a consensus price target of $176.55.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock opened at $176.54 on Tuesday. 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 quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50 day moving average price of $170.26 and a 200 day moving average price of $167.80. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 3.09 and a beta of 0.64.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. The company had revenue of $559.91 million for the quarter, compared to analyst estimates 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 last year, the business earned $1.34 EPS. Sell-side analysts predict that Jack Henry & Associates, Inc. will post 5.82 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

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 was Friday, September 6th. This represents a $2.20 annualized dividend and a yield of 1.25%. Jack Henry & Associates’s dividend payout ratio is presently 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.