Meiji Yasuda Asset Management Co Ltd. Raises Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 5.5% in the fourth quarter, Holdings Channel reports. The fund owned 25,238 shares of the technology company’s stock after buying an additional 1,319 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Jack Henry & Associates were worth $4,424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Zions Bancorporation N.A. grew its stake in shares of Jack Henry & Associates by 23.5% in the 4th quarter. Zions Bancorporation N.A. now owns 10,709 shares of the technology company’s stock worth $1,877,000 after buying an additional 2,041 shares in the last quarter. ICW Investment Advisors LLC raised its position in shares of Jack Henry & Associates by 2.0% during the 4th quarter. ICW Investment Advisors LLC now owns 7,162 shares of the technology company’s stock valued at $1,256,000 after buying an additional 142 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Jack Henry & Associates by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 8,811,373 shares of the technology company’s stock valued at $1,544,634,000 after acquiring an additional 157,360 shares during the last quarter. LPL Financial LLC grew its position in Jack Henry & Associates by 26.1% in the fourth quarter. LPL Financial LLC now owns 79,693 shares of the technology company’s stock worth $13,947,000 after acquiring an additional 16,514 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Jack Henry & Associates during the fourth quarter worth approximately $4,453,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JKHY. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Wells Fargo & Company initiated coverage on Jack Henry & Associates in a research report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price target for the company. Northcoast Research downgraded shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. Finally, StockNews.com cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $186.80.

Jack Henry & Associates Stock Up 1.1 %

Shares of NASDAQ JKHY opened at $174.78 on Wednesday. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $196.00. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 3.36 and a beta of 0.65. The stock has a 50 day moving average price of $174.26 and a 200 day moving average price of $176.22. 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 (NASDAQ:JKHY) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share 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%. Sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were given a dividend of $0.58 per share. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a yield of 1.33%. Jack Henry & Associates’s dividend payout ratio (DPR) is 41.88%.

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.