Norges Bank Takes Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Norges Bank purchased a new position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 278,575 shares of the technology company’s stock, valued at approximately $48,834,000. Norges Bank owned about 0.38% of Jack Henry & Associates at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew 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 worth $25,000 after acquiring an additional 123 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Jack Henry & Associates in the third quarter worth approximately $26,000. National Pension Service purchased a new stake in shares of Jack Henry & Associates during the 4th quarter worth $27,000. ORG Partners LLC purchased a new stake in shares of Jack Henry & Associates during the fourth quarter valued at about $35,000. Finally, Atala Financial Inc acquired a new stake in Jack Henry & Associates in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upgraded Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price target on the stock in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Northcoast Research cut shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company started coverage on Jack Henry & Associates in a research report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $186.45.

Jack Henry & Associates Price Performance

NASDAQ:JKHY opened at $172.62 on Friday. Jack Henry & Associates, Inc. has a one year low of $157.00 and a one year high of $196.00. The stock has a market cap of $12.58 billion, a PE ratio of 31.16, a P/E/G ratio of 3.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50 day moving average price of $175.42 and a 200 day moving average price of $176.52.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. Equities research analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th were paid a $0.58 dividend. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 6th. This represents a $2.32 annualized dividend and a dividend yield of 1.34%. Jack Henry & Associates’s dividend payout ratio 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.