Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 9.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,693 shares of the technology company’s stock after acquiring an additional 1,038 shares during the period. CIBC Asset Management Inc’s holdings in Jack Henry & Associates were worth $2,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC boosted its stake in Jack Henry & Associates by 647.4% in the fourth quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock valued at $25,000 after acquiring an additional 123 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Jack Henry & Associates in the 3rd quarter valued at about $26,000. ORG Partners LLC acquired a new stake in shares of Jack Henry & Associates in the 4th quarter valued at about $35,000. Manchester Capital Management LLC grew its stake in Jack Henry & Associates by 11,750.0% during the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the technology company’s stock worth $42,000 after buying an additional 235 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Jack Henry & Associates during the third quarter worth approximately $48,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY opened at $171.13 on Friday. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week high of $189.63. The company has a 50-day moving average price of $173.58 and a 200 day moving average price of $174.74. The company has a market cap of $12.48 billion, a P/E ratio of 30.89, a PEG ratio of 3.33 and a beta of 0.61. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. Research analysts predict that Jack Henry & Associates, Inc. will post 5.83 earnings per share 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. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.36%. Jack Henry & Associates’s dividend payout ratio is 39.71%.

Analysts Set New Price Targets

Several research firms have recently weighed in on JKHY. 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. Stephens reiterated an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Wells Fargo & Company initiated coverage on shares of Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price objective on the stock. Keefe, Bruyette & Woods upped their target price on shares of 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, UBS Group raised their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $186.80.

Jack Henry & Associates Company Profile

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.