Principal Financial Group Inc. lifted its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY – Free Report) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 372,186 shares of the technology company’s stock after purchasing an additional 30,726 shares during the period. Principal Financial Group Inc.’s holdings in Jack Henry & Associates were worth $65,244,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Fortitude Family Office LLC raised its position in Jack Henry & Associates by 647.4% in the 4th quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock worth $25,000 after purchasing an additional 123 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Jack Henry & Associates in the third quarter valued at approximately $26,000. ORG Partners LLC acquired a new stake in Jack Henry & Associates during the 4th quarter worth $35,000. Manchester Capital Management LLC raised its position in shares of Jack Henry & Associates by 11,750.0% during the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the technology company’s stock valued at $42,000 after acquiring an additional 235 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Jack Henry & Associates in the 3rd quarter valued at $48,000. 98.75% of the stock is owned by institutional investors.
Jack Henry & Associates Trading Down 0.3 %
JKHY opened at $167.28 on Thursday. The firm’s fifty day simple moving average is $173.82 and its 200 day simple moving average is $174.78. Jack Henry & Associates, Inc. has a 12 month low of $157.00 and a 12 month high of $189.63. The stock has a market capitalization of $12.19 billion, a P/E ratio of 30.19, a P/E/G ratio of 3.31 and a beta of 0.61. 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 Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 6th will be issued a dividend of $0.58 per share. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $2.32 annualized dividend and a yield of 1.39%. Jack Henry & Associates’s dividend payout ratio is presently 41.88%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on JKHY. Wells Fargo & Company initiated coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 target price on the stock. Royal Bank of Canada increased their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday. Finally, UBS Group lifted their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Jack Henry & Associates presently has an average rating of “Hold” and a consensus target price of $186.80.
View Our Latest Stock Report on Jack Henry & Associates
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.
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