Van ECK Associates Corp Buys 392 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Van ECK Associates Corp increased its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,323 shares of the technology company’s stock after purchasing an additional 392 shares during the quarter. Van ECK Associates Corp’s holdings in Jack Henry & Associates were worth $1,850,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Planned Solutions Inc. bought a new stake in shares of Jack Henry & Associates in the fourth quarter valued at $33,000. NBC Securities Inc. purchased a new stake in Jack Henry & Associates in the 3rd quarter worth about $30,000. Anchor Investment Management LLC bought a new stake in Jack Henry & Associates in the 4th quarter valued at about $35,000. Federated Hermes Inc. purchased a new stake in Jack Henry & Associates during the third quarter valued at about $72,000. Finally, GAMMA Investing LLC bought a new position in Jack Henry & Associates during the fourth quarter worth about $79,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on JKHY. Evercore ISI upped their price target on shares of 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. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a report on Wednesday. DA Davidson reiterated a “buy” rating and set a $198.00 price objective on shares of Jack Henry & Associates in a research note on Tuesday, April 30th. Citigroup initiated coverage on Jack Henry & Associates in a research note on Thursday, January 18th. They issued a “neutral” rating and a $177.00 target price for the company. Finally, StockNews.com cut Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $174.42.

Jack Henry & Associates Price Performance

JKHY stock opened at $165.59 on Thursday. The firm has a 50 day simple moving average of $168.98 and a two-hundred day simple moving average of $164.25. The stock has a market cap of $12.07 billion, a PE ratio of 32.41, a P/E/G 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 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 announced its earnings results on Tuesday, May 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. The company had revenue of $538.56 million during the quarter, compared to analyst estimates of $541.80 million. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. On average, analysts predict that Jack Henry & Associates, Inc. will post 5.12 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors 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 dividend yield of 1.33%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, March 7th. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 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.