Riverbridge Partners LLC Invests $25.45 Million in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Riverbridge Partners LLC acquired a new position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 138,285 shares of the technology company’s stock, valued at approximately $25,449,000. Riverbridge Partners LLC owned 0.18% of Jack Henry & Associates at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Jack Henry & Associates in the first quarter valued at about $34,000. Prestige Wealth Management Group LLC grew its stake in shares of Jack Henry & Associates by 603.0% in the first quarter. Prestige Wealth Management Group LLC now owns 232 shares of the technology company’s stock valued at $36,000 after buying an additional 199 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Jack Henry & Associates by 57.0% in the first quarter. Fifth Third Bancorp now owns 270 shares of the technology company’s stock valued at $42,000 after buying an additional 98 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in shares of Jack Henry & Associates by 17.9% in the fourth quarter. CSat Investment Advisory L.P. now owns 402 shares of the technology company’s stock valued at $59,000 after buying an additional 61 shares in the last quarter. Finally, Cornerstone Advisors Inc. grew its stake in shares of Jack Henry & Associates by 38.7% in the first quarter. Cornerstone Advisors Inc. now owns 416 shares of the technology company’s stock valued at $65,000 after buying an additional 116 shares in the last quarter. Institutional investors own 88.63% of the company’s stock.

JKHY has been the subject of a number of recent research reports. Robert W. Baird increased their target price on Jack Henry & Associates from $176.00 to $194.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. BidaskClub upgraded Jack Henry & Associates from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. DA Davidson raised their price objective on Jack Henry & Associates from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Oppenheimer restated a “hold” rating on shares of Jack Henry & Associates in a research note on Tuesday, May 5th. Finally, Wells Fargo & Co lowered Jack Henry & Associates from an “overweight” rating to an “equal weight” rating in a research note on Sunday, April 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $171.71.

In other news, VP Steven W. Tomson sold 3,698 shares of Jack Henry & Associates stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $175.17, for a total value of $647,778.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.

Shares of JKHY opened at $181.96 on Thursday. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 47.26, a PEG ratio of 3.79 and a beta of 0.61. The stock has a 50 day moving average of $181.19 and a 200-day moving average of $164.05. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04. Jack Henry & Associates, Inc. has a 52 week low of $123.64 and a 52 week high of $195.03.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Monday, May 4th. The technology company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.80 by $0.16. The company had revenue of $429.41 million during the quarter, compared to analyst estimates of $408.79 million. Jack Henry & Associates had a return on equity of 20.07% and a net margin of 17.64%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. On average, sell-side analysts predict that Jack Henry & Associates, Inc. will post 3.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 28th were given a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.72 annualized dividend and a dividend yield of 0.95%. Jack Henry & Associates’s payout ratio is 48.86%.

Jack Henry & Associates Company 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.

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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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