Laurus Investment Counsel Inc. Increases Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Laurus Investment Counsel Inc. raised its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 23.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,189 shares of the technology company’s stock after purchasing an additional 16,295 shares during the period. Jack Henry & Associates accounts for approximately 7.9% of Laurus Investment Counsel Inc.’s holdings, making the stock its 4th biggest position. Laurus Investment Counsel Inc. owned 0.12% of Jack Henry & Associates worth $15,284,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Jack Henry & Associates by 50.8% in the 4th quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock valued at $136,720,000 after purchasing an additional 263,021 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Jack Henry & Associates by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock worth $316,326,000 after purchasing an additional 131,515 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of Jack Henry & Associates by 2,032.2% in the third quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock valued at $22,540,000 after acquiring an additional 121,667 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Jack Henry & Associates by 80.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 207,757 shares of the technology company’s stock valued at $36,677,000 after purchasing an additional 92,359 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Jack Henry & Associates by 49.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 219,985 shares of the technology company’s stock worth $38,836,000 after purchasing an additional 72,760 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling

In related news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

JKHY has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. William Blair lowered Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Stephens reaffirmed an “equal weight” rating and set a $170.00 price objective on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. Robert W. Baird boosted their target price on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company began coverage on Jack Henry & Associates in a research report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $186.80.

Jack Henry & Associates Stock Down 0.1 %

JKHY stock opened at $174.09 on Friday. The company has a market capitalization of $12.70 billion, a P/E ratio of 31.88, a PEG ratio of 3.44 and a beta of 0.61. The firm has a 50 day simple moving average of $174.78 and a 200-day simple moving average of $174.59. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $600.98 million for the quarter, compared to analysts’ expectations of $599.56 million. During the same quarter last year, the company posted $1.39 earnings per share. Jack Henry & Associates’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Jack Henry & Associates, Inc. will post 5.81 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 2nd were paid a dividend of $0.55 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.20 annualized dividend and a yield of 1.26%. Jack Henry & Associates’s dividend payout ratio is currently 40.29%.

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.