Miracle Mile Advisors LLC acquired a new stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,660 shares of the technology company’s stock, valued at approximately $2,311,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MML Investors Services LLC raised its holdings in shares of Jack Henry & Associates by 3.1% during the 4th quarter. MML Investors Services LLC now owns 4,832 shares of the technology company’s stock valued at $611,000 after buying an additional 146 shares in the last quarter. PFG Advisors purchased a new position in shares of Jack Henry & Associates during the 4th quarter valued at about $1,109,000. State of Alaska Department of Revenue raised its holdings in shares of Jack Henry & Associates by 8.4% during the 4th quarter. State of Alaska Department of Revenue now owns 16,203 shares of the technology company’s stock valued at $2,048,000 after buying an additional 1,250 shares in the last quarter. Oakbrook Investments LLC purchased a new position in shares of Jack Henry & Associates during the 4th quarter valued at about $539,000. Finally, Vanguard Group Inc raised its holdings in shares of Jack Henry & Associates by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 7,854,780 shares of the technology company’s stock valued at $1,257,394,000 after buying an additional 60,151 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.
Shares of Jack Henry & Associates stock opened at $135.76 on Friday. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 3.50 and a beta of 0.89. Jack Henry & Associates, Inc. has a one year low of $119.30 and a one year high of $163.68.
Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. The business had revenue of $380.36 million for the quarter, compared to analysts’ expectations of $382.45 million. Jack Henry & Associates had a return on equity of 21.72% and a net margin of 18.79%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. As a group, equities analysts predict that Jack Henry & Associates, Inc. will post 3.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.18%. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 44.57%.
In other news, Director John F. Prim sold 7,575 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $131.91, for a total transaction of $999,218.25. Following the transaction, the director now directly owns 218,491 shares of the company’s stock, valued at $28,821,147.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Russell L. Bernthal sold 910 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $137.56, for a total value of $125,179.60. Following the transaction, the vice president now directly owns 4,831 shares in the company, valued at $664,552.36. The disclosure for this sale can be found here. Insiders sold a total of 10,235 shares of company stock worth $1,359,788 over the last ninety days. Insiders own 0.84% of the company’s stock.
A number of equities analysts recently weighed in on JKHY shares. BidaskClub raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $163.00 price target on shares of Jack Henry & Associates in a research note on Tuesday, February 5th. Finally, Zacks Investment Research raised Jack Henry & Associates from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Jack Henry & Associates presently has an average rating of “Buy” and an average target price of $150.40.
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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 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.
Further Reading: Return on Equity (ROE)
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