Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Sumitomo Mitsui Trust Group Inc. increased its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 5.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 172,675 shares of the technology company’s stock after buying an additional 9,537 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Jack Henry & Associates were worth $30,484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Jack Henry & Associates by 188.4% in the 2nd quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock worth $46,819,000 after purchasing an additional 184,210 shares during the period. Mackenzie Financial Corp lifted its position in Jack Henry & Associates by 51.4% during the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after buying an additional 171,041 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Jack Henry & Associates by 6,680.1% during the second quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after buying an additional 113,696 shares during the period. Tandem Investment Advisors Inc. increased its position in shares of Jack Henry & Associates by 20.4% in the second quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock worth $83,496,000 after acquiring an additional 85,175 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Jack Henry & Associates by 207.3% in the 2nd quarter. SG Americas Securities LLC now owns 122,075 shares of the technology company’s stock valued at $20,267,000 after acquiring an additional 82,351 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Price Performance

Shares of NASDAQ JKHY opened at $173.21 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 3.29 and a beta of 0.63. Jack Henry & Associates, Inc. has a twelve month low of $151.05 and a twelve month high of $189.63. The business has a 50 day simple moving average of $179.46 and a 200-day simple moving average of $170.93.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm had revenue of $600.98 million during the quarter, compared to analyst estimates of $599.56 million. During the same quarter in the previous year, the firm earned $1.39 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be issued a $0.55 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.27%. Jack Henry & Associates’s dividend payout ratio is currently 40.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on JKHY shares. StockNews.com raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Friday. UBS Group lifted their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Stephens restated an “equal weight” rating and issued a $170.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. William Blair lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, 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. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $188.73.

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.