Eventide Asset Management LLC Makes New $1.61 Million Investment in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Eventide Asset Management LLC acquired a new stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,141 shares of the technology company’s stock, valued at approximately $1,614,000.

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

Insiders Place Their Bets

In related news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the sale, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

JKHY has been the subject of a number of research reports. Stephens reaffirmed an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods increased their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. William Blair downgraded shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird increased their price objective on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $188.73.

Jack Henry & Associates Price Performance

NASDAQ:JKHY opened at $176.18 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day moving average price of $179.07 and a 200-day moving average price of $171.45. Jack Henry & Associates, Inc. has a 1-year low of $154.77 and a 1-year high of $189.63. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 3.28 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $600.98 million during the quarter, compared to analysts’ expectations of $599.56 million. During the same quarter in the previous year, the company earned $1.39 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Jack Henry & Associates, Inc. will post 5.8 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 1.25%. Jack Henry & Associates’s payout ratio is 40.29%.

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.