Illinois Municipal Retirement Fund Boosts Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Illinois Municipal Retirement Fund boosted its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 40.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,167 shares of the technology company’s stock after acquiring an additional 13,907 shares during the period. Illinois Municipal Retirement Fund owned 0.07% of Jack Henry & Associates worth $7,871,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Jack Henry & Associates in the third quarter valued at approximately $30,000. Planned Solutions Inc. acquired a new position in Jack Henry & Associates during the fourth quarter worth $33,000. Anchor Investment Management LLC acquired a new position in Jack Henry & Associates during the fourth quarter worth $35,000. Federated Hermes Inc. acquired a new position in Jack Henry & Associates during the third quarter worth $72,000. Finally, Parkside Financial Bank & Trust lifted its stake in Jack Henry & Associates by 25.4% during the third quarter. Parkside Financial Bank & Trust now owns 656 shares of the technology company’s stock worth $99,000 after purchasing an additional 133 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on Jack Henry & Associates from $161.00 to $181.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. TheStreet raised Jack Henry & Associates from a “c+” rating to a “b-” rating in a report on Friday, December 29th. Wolfe Research began coverage on Jack Henry & Associates in a report on Thursday, March 7th. They issued a “peer perform” rating on the stock. Citigroup began coverage on Jack Henry & Associates in a report on Thursday, January 18th. They set a “neutral” rating and a $177.00 price objective on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $172.42.

Jack Henry & Associates Stock Up 1.0 %

JKHY stock opened at $166.48 on Wednesday. The stock has a market capitalization of $12.13 billion, a P/E ratio of 32.58, a PEG ratio of 3.86 and a beta of 0.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37. Jack Henry & Associates, Inc. has a one year low of $136.57 and a one year high of $178.37. The company has a 50 day moving average price of $171.02 and a two-hundred day moving average price of $162.98.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.14 by $0.12. The firm had revenue of $545.70 million during the quarter, compared to analysts’ expectations of $540.34 million. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. Jack Henry & Associates’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. As a group, sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.11 EPS for the current year.

Jack Henry & Associates Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.52. Jack Henry & Associates’s dividend payout ratio (DPR) 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.