Redmond Asset Management LLC Makes New $1.66 Million Investment in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Redmond Asset Management LLC bought a new position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,445 shares of the technology company’s stock, valued at approximately $1,656,000.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of Jack Henry & Associates by 50.8% during the fourth 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Jack Henry & Associates by 7.9% during the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after purchasing an additional 131,515 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Jack Henry & Associates by 2,032.2% during the third quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock valued at $22,540,000 after purchasing an additional 121,667 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Jack Henry & Associates by 80.0% during the third 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 holdings in shares of Jack Henry & Associates by 49.4% during the third quarter. BNP Paribas Financial Markets now owns 219,985 shares of the technology company’s stock valued at $38,836,000 after purchasing an additional 72,760 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

Jack Henry & Associates Stock Performance

Shares of JKHY opened at $171.13 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $173.58 and a two-hundred day simple moving average of $174.74. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 3.36 and a beta of 0.61. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week high of $189.63.

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

Jack Henry & Associates Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th will be given a $0.58 dividend. 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 dividend on an annualized basis and a yield of 1.36%. Jack Henry & Associates’s dividend payout ratio is presently 39.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JKHY. Stephens reaffirmed an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a report on Wednesday, November 6th. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday. Keefe, Bruyette & Woods increased their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, UBS Group increased their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Jack Henry & Associates presently has an average rating of “Hold” and an average target price 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.