On September 19, 2023, it was reported that Thrive Wealth Management LLC had purchased a new position in shares of Jack Henry & Associates, Inc. According to the company’s most recent Form 13F filing with the Securities & Exchange Commission, Thrive Wealth Management acquired 1,333 shares of the technology company’s stock during the second quarter of the year. The total value of this investment amounts to approximately $223,000.
Jack Henry & Associates is a well-known technology company that specializes in providing innovative solutions for financial institutions. With its strong presence in the market, many investors find it attractive due to potential growth opportunities and steady returns.
In addition to this investment news, it was also disclosed that Jack Henry & Associates recently declared a quarterly dividend. This dividend is set to be paid on Thursday, September 28th. Shareholders who were officially recorded as owners of the company’s stock on Friday, September 8th will be eligible to receive a dividend amounting to $0.52 per share.
For investors interested in understanding the potential return on their investment, it is worth noting that the ex-dividend date for this payout occurred on Thursday, September 7th. The notification of this ex-dividend date serves as an important marker for those looking to secure dividends from their investments.
Taking into account Jack Henry & Associates’s current dividend payout ratio (DPR) of 41.43%, this translates into an annualized dividend payout of $2.08 per share. Based on the current stock price, this represents a yield of approximately 1.34%. Such information allows investors to gain insights into how much they can expect as returns when investing in shares of Jack Henry & Associates.
Overall, these developments offer valuable information for individuals interested in Jack Henry & Associates and its financial performance. The acquisition of shares by Thrive Wealth Management LLC demonstrates confidence in the future prospects of the technology company. Additionally, the announcement of a quarterly dividend payout showcases Jack Henry & Associates’s commitment to rewarding its shareholders.
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Institutional Investors and Hedge Funds Show Interest in Jack Henry & Associates as Analysts Give Mixed Reviews
On September 19, 2023, various hedge funds and institutional investors were observed buying and selling shares of Jack Henry & Associates. KB Financial Partners LLC entered the market during the first quarter, purchasing a new position in the company’s shares worth approximately $52,000. Eagle Bay Advisors LLC followed suit by increasing its stake in Jack Henry & Associates by 23.9% during the same quarter, now owning 908 shares valued at $54,000 after acquiring an additional 175 shares.
Platinum Investment Management Ltd. also took an interest in Jack Henry & Associates during the first quarter, adding a new position worth about $58,000. Global Retirement Partners LLC experienced notable growth in its position as well, advancing by 84.8% and obtaining ownership of 377 shares valued at $60,000 after purchasing an additional 173 shares during this period. Lastly, Ronald Blue Trust Inc. increased its stake by 58.3% in the first quarter to own 345 shares valued at $61,000.
It is worth mentioning that institutional investors alongside hedge funds collectively hold 92.53% of Jack Henry & Associates’ stock.
Multiple research analysts have recently weighed in on JKHY shares. TheStreet upgraded the technology company from a “c+” rating to a “b” rating on August 15th based on their research note analysis. Northcoast Research also expressed their positive views regarding Jack Henry & Associates as they upgraded their rating from “neutral” to “buy,” setting a target price of $185.00 for the company.
However, not all research reports provided such optimistic perspectives on the stock’s future performance. Robert W. Baird lowered their price target from $176.00 to $164.00 and maintained a “neutral” rating for Jack Henry & Associates in their research note on August 17th.
Joining the discussions surrounding JKHY stock is StockNews.com, a financial news platform, which initiated coverage on Jack Henry & Associates, assigning a “hold” rating to the company in their research note on August 17th. The Goldman Sachs Group also joined in by initiating coverage, providing a “neutral” rating and setting a target price of $173.00 for the stock on July 12th.
In total, there are currently nine research analysts with a “hold” rating and five with a “buy” rating assigned to Jack Henry & Associates based on data from Bloomberg. Considering these ratings collectively, the company holds an average rating of “Hold” and an average target price of $174.00.
On September 19th, JKHY opened at $155.19. The firm’s fifty-day moving average price is $163.02, while its two-hundred-day moving average stood at $158.10. With a market capitalization of $11.32 billion, the company maintains a price-to-earnings ratio of 30.91, a P/E/G ratio of 3.79, and boasts a beta value of 0.64.
Additional financial indicators include Jack Henry & Associates’ debt-to-equity ratio of 0.17, current ratio and quick ratio both standing at 1.20 each. Over the past year, the stock has experienced lows reaching $139.28 and highs reaching $202.66.
As for the recent quarterly earnings report released by Jack Henry & Associates on August 16th, the technology company disclosed earnings per share (EPS) amounting to $1.34 for the quarter surpassing analysts’ consensus estimates of $1.19 by an impressive margin of $0.15.
The reported net margin was calculated to be approximately 17.65% while its return on equity stood at 23.97%. Furthermore, revenue recorded during the quarter amounted to $534.,63 million compared to the consensus estimate of $512.78 million. This indicates a positive growth of 10.8% when compared to the same quarter in the previous year.
As a result, analysts predict that Jack Henry & Associates, Inc. will post an estimated earnings per share of 4.97 for the current fiscal year based on these figures and performance indicators.
In conclusion, Jack Henry & Associates has recently garnered attention from various institutional investors and hedge funds. The technology company’s stock performance attracted mixed reviews from research analysts, with ratings ranging from “neutral” to “buy.” Despite this disparity, with solid quarterly earnings performance and positive growth trends, many anticipate a bright future ahead for Jack Henry & Associates.
