Lord Abbett & CO. LLC Increases Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Lord Abbett & CO. LLC grew its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,046 shares of the technology company’s stock after purchasing an additional 1,054 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Jack Henry & Associates were worth $30,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. lifted its position in Jack Henry & Associates by 188.4% in the second quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock valued at $46,819,000 after acquiring an additional 184,210 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Jack Henry & Associates by 51.4% in the 2nd quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after purchasing an additional 171,041 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Jack Henry & Associates by 2,032.2% in the 3rd 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 during the period. Assenagon Asset Management S.A. grew its stake in Jack Henry & Associates by 80.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 207,757 shares of the technology company’s stock worth $36,677,000 after buying an additional 92,359 shares during the last quarter. Finally, Tandem Investment Advisors Inc. increased its position in Jack Henry & Associates by 20.4% during the second quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock worth $83,496,000 after buying an additional 85,175 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $179.80 on Monday. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 3.37 and a beta of 0.61. The business’s 50 day moving average is $178.88 and its two-hundred day moving average is $172.12. Jack Henry & Associates, Inc. has a 12-month low of $157.00 and a 12-month high of $189.63. 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 (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The firm had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same quarter in the prior year, the company posted $1.39 earnings per share. Jack Henry & Associates’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts expect that Jack Henry & Associates, Inc. will post 5.8 EPS for the current year.

Jack Henry & Associates Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.22%. Jack Henry & Associates’s dividend payout ratio is presently 40.29%.

Analysts Set New Price Targets

Several research firms have recently weighed in on JKHY. William Blair downgraded Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Stephens reissued 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 upped their target price on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Compass Point began coverage on Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. Finally, Oppenheimer initiated coverage on Jack Henry & Associates in a research note on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $189.00.

Insider Buying and Selling

In related news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the transaction, the insider now directly owns 138,665 shares of the company’s stock, valued at $23,756,087.80. This trade represents a 11.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.37% of the stock is owned by insiders.

Jack Henry & Associates Profile

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.