Swiss National Bank Reduces Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Swiss National Bank trimmed its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,200 shares of the technology company’s stock after selling 6,800 shares during the period. Swiss National Bank’s holdings in Jack Henry & Associates were worth $37,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. purchased a new stake in Jack Henry & Associates during the third quarter worth approximately $30,000. Planned Solutions Inc. acquired a new position in Jack Henry & Associates in the fourth quarter valued at $33,000. Anchor Investment Management LLC purchased a new position in shares of Jack Henry & Associates during the fourth quarter worth about $35,000. Federated Hermes Inc. acquired a new stake in shares of Jack Henry & Associates during the third quarter worth about $72,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Jack Henry & Associates in the 4th quarter valued at about $79,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Stock Up 0.4 %

JKHY opened at $165.65 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 3.84 and a beta of 0.66. Jack Henry & Associates, Inc. has a one year low of $136.57 and a one year high of $178.37. The business’s fifty day moving average is $169.14 and its two-hundred day moving average is $164.24.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The business had revenue of $538.56 million for the quarter, compared to analyst estimates of $541.80 million. During the same period in the previous year, the firm earned $1.12 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. Analysts anticipate that Jack Henry & Associates, Inc. will post 5.12 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, March 7th. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. Jack Henry & Associates’s dividend payout ratio is 43.05%.

Analysts Set New Price Targets

A number of brokerages have weighed in on JKHY. StockNews.com cut Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Citigroup started coverage on shares of Jack Henry & Associates in a research note on Thursday, January 18th. They issued a “neutral” rating and a $177.00 price objective on the stock. Wolfe Research started coverage on shares of Jack Henry & Associates in a research note on Thursday, March 7th. They set a “peer perform” rating for the company. DA Davidson reissued a “buy” rating and set a $198.00 price target on shares of Jack Henry & Associates in a report on Tuesday, April 30th. Finally, Evercore ISI upped their price objective 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. One 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $174.42.

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.