SteelPeak Wealth LLC Acquires Shares of 1,142 Jack Henry & Associates, Inc. (NASDAQ:JKHY)

SteelPeak Wealth LLC bought a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) in the fourth quarter, Holdings Channel.com reports. The fund bought 1,142 shares of the technology company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of JKHY. Fortitude Family Office LLC raised its holdings 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 valued at $25,000 after acquiring an additional 123 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Jack Henry & Associates during the third quarter worth approximately $26,000. ORG Partners LLC acquired a new position in Jack Henry & Associates during the fourth quarter worth $35,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Jack Henry & Associates in the 3rd quarter worth $48,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Jack Henry & Associates during the 3rd quarter worth $54,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Jack Henry & Associates

In related news, insider David B. Foss sold 18,770 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares of the company’s stock, valued at $23,756,087.80. This represents a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price objective on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Stephens reaffirmed an “equal weight” rating and issued a $170.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $186.80.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock opened at $174.09 on Friday. The company’s 50 day moving average is $174.78 and its two-hundred day moving average is $174.59. The firm has a market cap of $12.70 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 3.44 and a beta of 0.61. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The firm had revenue of $600.98 million during the quarter, compared to analyst estimates of $599.56 million. During the same period last year, the business posted $1.39 earnings per share. Jack Henry & Associates’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Jack Henry & Associates, Inc. will post 5.81 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 2nd were paid a dividend of $0.55 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.26%. Jack Henry & Associates’s payout ratio is 40.29%.

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.