CIBC Private Wealth Group LLC increased its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,889,247 shares of the technology company’s stock after purchasing an additional 1,661 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 2.48% of Jack Henry & Associates worth $286,637,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Vantage Consulting Group Inc bought a new stake in shares of Jack Henry & Associates in the 4th quarter worth approximately $28,000. Allred Capital Management LLC bought a new stake in shares of Jack Henry & Associates in the 1st quarter worth approximately $32,000. Duncker Streett & Co. Inc. raised its holdings in shares of Jack Henry & Associates by 59.9% in the 1st quarter. Duncker Streett & Co. Inc. now owns 227 shares of the technology company’s stock worth $34,000 after purchasing an additional 85 shares during the period. Global Trust Asset Management LLC raised its holdings in shares of Jack Henry & Associates by 429.1% in the 1st quarter. Global Trust Asset Management LLC now owns 291 shares of the technology company’s stock worth $44,000 after purchasing an additional 236 shares during the period. Finally, JJJ Advisors Inc. raised its holdings in shares of Jack Henry & Associates by 50.2% in the 1st quarter. JJJ Advisors Inc. now owns 308 shares of the technology company’s stock worth $47,000 after purchasing an additional 103 shares during the period. 89.42% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on JKHY shares. DA Davidson boosted their target price on shares of Jack Henry & Associates from $182.00 to $192.00 and gave the company a “buy” rating in a report on Friday, April 23rd. Raymond James lowered their target price on shares of Jack Henry & Associates from $179.00 to $174.00 and set an “outperform” rating on the stock in a report on Wednesday, May 5th. Finally, Compass Point raised shares of Jack Henry & Associates from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Friday, February 12th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Jack Henry & Associates has a consensus rating of “Hold” and a consensus price target of $172.38.
Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Sunday, May 2nd. The technology company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. The firm had revenue of $433.78 million during the quarter, compared to analyst estimates of $439.61 million. Jack Henry & Associates had a net margin of 17.22% and a return on equity of 19.88%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 EPS. Equities analysts anticipate that Jack Henry & Associates, Inc. will post 4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 14th. Stockholders of record on Friday, May 28th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, May 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.13%. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 47.67%.
Jack Henry & Associates declared that its board has approved a share repurchase plan on Monday, May 17th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Jack Henry & Associates Profile
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion-dollar asset institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
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