Portside Wealth Group LLC Boosts Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Portside Wealth Group LLC raised its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,466 shares of the technology company’s stock after buying an additional 96 shares during the period. Portside Wealth Group LLC’s holdings in Jack Henry & Associates were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in JKHY. Vanguard Group Inc. increased its position in shares of Jack Henry & Associates by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 8,811,373 shares of the technology company’s stock worth $1,544,634,000 after acquiring an additional 157,360 shares during the period. Invesco Ltd. grew its stake in Jack Henry & Associates by 29.9% in the fourth quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock worth $359,523,000 after purchasing an additional 471,507 shares in the last quarter. Geode Capital Management LLC increased its holdings in Jack Henry & Associates by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,990,506 shares of the technology company’s stock worth $349,796,000 after purchasing an additional 24,709 shares during the period. JPMorgan Chase & Co. raised its position in Jack Henry & Associates by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after purchasing an additional 131,515 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Jack Henry & Associates by 95.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company’s stock valued at $229,057,000 after purchasing an additional 643,697 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. William Blair restated an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. UBS Group cut their target price on shares of Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Northcoast Research cut shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research report on Monday, March 10th. Wall Street Zen upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, The Goldman Sachs Group raised shares of 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 research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $184.10.

Jack Henry & Associates Stock Down 0.3%

NASDAQ:JKHY opened at $181.01 on Friday. The company’s 50-day simple moving average is $176.39 and its 200-day simple moving average is $175.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. Jack Henry & Associates, Inc. has a fifty-two week low of $157.00 and a fifty-two week high of $196.00. The stock has a market capitalization of $13.18 billion, a P/E ratio of 32.67, a P/E/G ratio of 3.36 and a beta of 0.75.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.23. Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. The company had revenue of $585.09 million during the quarter, compared to the consensus estimate of $585.84 million. During the same period last year, the firm earned $1.19 earnings per share. Jack Henry & Associates’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th will be given a $0.58 dividend. The ex-dividend date is Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.28%. Jack Henry & Associates’s payout ratio is 39.52%.

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.