Bank of Nova Scotia Grows Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Bank of Nova Scotia boosted its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 755.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,809 shares of the technology company’s stock after acquiring an additional 89,907 shares during the quarter. Bank of Nova Scotia owned about 0.14% of Jack Henry & Associates worth $17,847,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC raised its stake in Jack Henry & Associates by 647.4% in the 4th quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Jack Henry & Associates during the 3rd quarter worth about $26,000. National Pension Service acquired a new position in Jack Henry & Associates during the 4th quarter worth approximately $27,000. ORG Partners LLC acquired a new position in shares of Jack Henry & Associates in the 4th quarter valued at approximately $35,000. Finally, Atala Financial Inc acquired a new stake in shares of Jack Henry & Associates during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of Jack Henry & Associates stock opened at $170.71 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $174.70 and a two-hundred day moving average price of $176.27. The company has a market cap of $12.44 billion, a P/E ratio of 30.81, a PEG ratio of 3.36 and a beta of 0.71. Jack Henry & Associates, Inc. has a 1-year low of $157.00 and a 1-year high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY) last posted its 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 return on equity of 21.55% and a net margin of 17.83%. As a group, analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.58 per share. This is a positive change 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%. The ex-dividend date of this dividend was Thursday, March 6th. Jack Henry & Associates’s dividend payout ratio is currently 41.88%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JKHY. Wells Fargo & Company started coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. Northcoast Research lowered Jack Henry & Associates from a “buy” rating to a “neutral” rating in a report on Monday, March 10th. Finally, The Goldman Sachs Group raised Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price objective on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $186.45.

Jack Henry & Associates 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.