Dynamic Technology Lab Private Ltd Acquires New Shares in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Dynamic Technology Lab Private Ltd bought a new stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) during the third quarter, Holdings Channel.com reports. The firm bought 4,873 shares of the technology company’s stock, valued at approximately $860,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in Jack Henry & Associates by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company’s stock valued at $657,158,000 after purchasing an additional 67,386 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Jack Henry & Associates by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company’s stock valued at $175,342,000 after buying an additional 23,617 shares during the period. Handelsbanken Fonder AB raised its holdings in Jack Henry & Associates by 8.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company’s stock valued at $152,495,000 after buying an additional 66,600 shares during the last quarter. Raymond James & Associates boosted its position in Jack Henry & Associates by 3.2% during the 3rd quarter. Raymond James & Associates now owns 631,974 shares of the technology company’s stock worth $111,569,000 after buying an additional 19,846 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Jack Henry & Associates by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 610,742 shares of the technology company’s stock worth $107,820,000 after acquiring an additional 2,324 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on JKHY shares. Compass Point initiated coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target for the company. Royal Bank of Canada increased their price objective 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. UBS Group lifted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Stephens reissued an “equal weight” rating and issued a $170.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Finally, Oppenheimer initiated coverage on Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Jack Henry & Associates presently has an average rating of “Hold” and an average target price of $188.73.

Insider Buying and Selling

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the sale, the insider now owns 138,665 shares in the company, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.37% of the stock is owned by company insiders.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock opened at $173.96 on Thursday. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 3.25 and a beta of 0.63. Jack Henry & Associates, Inc. has a 52-week low of $153.23 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 stock’s 50 day moving average price is $179.05 and its two-hundred day moving average price is $171.38.

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 the consensus estimate 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 business had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same period in the prior year, the firm earned $1.39 earnings per share. Jack Henry & Associates’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts predict that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

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

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.