CIBC Asset Management Inc Raises Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

CIBC Asset Management Inc raised its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,693 shares of the technology company’s stock after purchasing an additional 1,038 shares during the quarter. CIBC Asset Management Inc’s holdings in Jack Henry & Associates were worth $2,050,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in Jack Henry & Associates by 647.4% in the fourth quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Jack Henry & Associates in the third quarter valued at $26,000. ORG Partners LLC purchased a new stake in Jack Henry & Associates in the fourth quarter valued at $35,000. Manchester Capital Management LLC lifted its stake in shares of Jack Henry & Associates by 11,750.0% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the technology company’s stock valued at $42,000 after purchasing an additional 235 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Jack Henry & Associates during the 3rd quarter worth $48,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Up 1.4 %

Jack Henry & Associates stock opened at $171.13 on Friday. The firm has a market capitalization of $12.48 billion, a P/E ratio of 30.89, a P/E/G ratio of 3.33 and a beta of 0.61. The stock’s fifty day simple moving average is $173.58 and its 200-day simple moving average is $174.74. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month high of $189.63. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. As a group, equities analysts expect that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 6th will be paid a $0.58 dividend. The ex-dividend date is Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a yield of 1.36%. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s payout ratio is currently 39.71%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JKHY. Wells Fargo & Company began coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price objective on the stock. Stephens reissued an “equal weight” rating and issued a $170.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. StockNews.com cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $186.80.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.