Redmond Asset Management LLC Acquires New Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Redmond Asset Management LLC purchased a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,445 shares of the technology company’s stock, valued at approximately $1,656,000.

Several other institutional investors and hedge funds have also bought and sold shares of JKHY. Blue Trust Inc. grew its position in Jack Henry & Associates by 159.4% during the 3rd quarter. Blue Trust Inc. now owns 581 shares of the technology company’s stock worth $96,000 after acquiring an additional 357 shares during the last quarter. Signaturefd LLC grew its position in Jack Henry & Associates by 13.0% during the 3rd quarter. Signaturefd LLC now owns 1,090 shares of the technology company’s stock worth $192,000 after acquiring an additional 125 shares during the last quarter. Private Advisor Group LLC grew its position in Jack Henry & Associates by 5.6% during the 3rd quarter. Private Advisor Group LLC now owns 4,912 shares of the technology company’s stock worth $867,000 after acquiring an additional 259 shares during the last quarter. International Assets Investment Management LLC grew its position in Jack Henry & Associates by 17,507.4% during the 3rd quarter. International Assets Investment Management LLC now owns 66,732 shares of the technology company’s stock worth $117,810,000 after acquiring an additional 66,353 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Jack Henry & Associates by 80.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 207,757 shares of the technology company’s stock worth $36,677,000 after acquiring an additional 92,359 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Jack Henry & Associates Trading Up 1.4 %

NASDAQ JKHY opened at $171.13 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month high of $189.63. The firm has a market capitalization of $12.48 billion, a PE ratio of 30.89, a P/E/G ratio of 3.36 and a beta of 0.61. The stock’s 50 day moving average is $173.58 and its 200 day moving average is $174.74.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly 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 net margin of 17.83% and a return on equity of 21.55%. Research analysts forecast that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.36%. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, March 6th. Jack Henry & Associates’s payout ratio is 39.71%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on JKHY shares. StockNews.com lowered Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday. UBS Group lifted their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company began coverage on Jack Henry & Associates in a research report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $186.80.

About Jack Henry & Associates

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.