New York Life Investment Management LLC Has $3.04 Million Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

New York Life Investment Management LLC increased its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,583 shares of the technology company’s stock after buying an additional 448 shares during the period. New York Life Investment Management LLC’s holdings in Jack Henry & Associates were worth $3,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JKHY. NBC Securities Inc. bought a new stake in Jack Henry & Associates during the third quarter worth approximately $30,000. Planned Solutions Inc. bought a new position in Jack Henry & Associates in the 4th quarter worth $33,000. Anchor Investment Management LLC acquired a new position in Jack Henry & Associates during the 4th quarter worth $35,000. Federated Hermes Inc. bought a new stake in Jack Henry & Associates during the third quarter valued at about $72,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Jack Henry & Associates in the fourth quarter valued at about $79,000. Institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JKHY shares. Evercore ISI increased their target price on Jack Henry & Associates from $157.00 to $172.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. StockNews.com lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Citigroup began coverage on shares of Jack Henry & Associates in a research report on Thursday, January 18th. They issued a “neutral” rating and a $177.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, February 7th. Finally, Wolfe Research initiated coverage on shares of Jack Henry & Associates in a research note on Thursday, March 7th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $174.42.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock opened at $164.18 on Monday. The business has a 50 day simple moving average of $169.52 and a 200 day simple moving average of $163.94. Jack Henry & Associates, Inc. has a one year low of $136.57 and a one year high of $178.37. The company has a market capitalization of $11.96 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 3.84 and a beta of 0.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.37 and a quick ratio of 1.37.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.14 by $0.12. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The company had revenue of $545.70 million for the quarter, compared to the consensus estimate of $540.34 million. During the same quarter in the previous year, the company earned $1.10 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Jack Henry & Associates, Inc. will post 5.12 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. Jack Henry & Associates’s payout ratio is 43.05%.

About Jack Henry & Associates

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.