Orion Portfolio Solutions LLC Acquires 1,207 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Orion Portfolio Solutions LLC raised its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 84.7% during the third quarter, HoldingsChannel.com reports. The fund owned 2,632 shares of the technology company’s stock after purchasing an additional 1,207 shares during the period. Orion Portfolio Solutions LLC’s holdings in Jack Henry & Associates were worth $465,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in JKHY. Strategic Financial Concepts LLC bought a new stake in shares of Jack Henry & Associates during the second quarter worth about $25,000. Tortoise Investment Management LLC grew its holdings in shares of Jack Henry & Associates by 76.3% during the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Jack Henry & Associates during the third quarter worth about $48,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Jack Henry & Associates during the third quarter worth about $54,000. 98.75% of the stock is currently owned by institutional investors.

Jack Henry & Associates Price Performance

Shares of JKHY opened at $177.67 on Wednesday. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $189.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $178.85 and its two-hundred day moving average price is $172.24. The firm has a market cap of $12.96 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $1.39 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.8 EPS for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 40.29%.

Insider Transactions at Jack Henry & Associates

In other news, insider David B. Foss sold 18,770 shares of the company’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 transaction of $3,215,676.40. Following the transaction, the insider now directly owns 138,665 shares of the company’s stock, valued at $23,756,087.80. This represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on JKHY shares. Oppenheimer started coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price target on the stock. William Blair cut Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group upped 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. Keefe, Bruyette & Woods upped 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. Finally, Robert W. Baird upped their target price on Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $189.00.

About Jack Henry & Associates

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.