Principal Financial Group Inc. Raises Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Principal Financial Group Inc. increased its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 21.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 341,460 shares of the technology company’s stock after purchasing an additional 59,450 shares during the period. Principal Financial Group Inc. owned 0.47% of Jack Henry & Associates worth $60,281,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in JKHY. Mackenzie Financial Corp grew its stake in shares of Jack Henry & Associates by 51.4% during the 2nd quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after buying an additional 171,041 shares during the period. Benjamin Edwards Inc. boosted its holdings in Jack Henry & Associates by 2,032.2% in the third quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock valued at $22,540,000 after acquiring an additional 121,667 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Jack Henry & Associates by 80.0% during the third quarter. Assenagon Asset Management S.A. now owns 207,757 shares of the technology company’s stock valued at $36,677,000 after acquiring an additional 92,359 shares during the period. Tandem Investment Advisors Inc. increased its stake in Jack Henry & Associates by 20.4% during the second quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock worth $83,496,000 after acquiring an additional 85,175 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Jack Henry & Associates by 49.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 219,985 shares of the technology company’s stock worth $38,836,000 after purchasing an additional 72,760 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Jack Henry & Associates Stock Up 0.4 %

Shares of NASDAQ JKHY opened at $176.74 on Monday. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 3.37 and a beta of 0.61. Jack Henry & Associates, Inc. has a 1 year low of $157.00 and a 1 year high of $189.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $178.41 and its 200-day simple moving average is $172.61.

Jack Henry & Associates (NASDAQ:JKHY) last announced 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 company had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same period in the prior year, the company posted $1.39 EPS. Jack Henry & Associates’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio is currently 40.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank of Canada boosted their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Oppenheimer started coverage on shares of Jack Henry & Associates in a research note on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price objective for the company. Robert W. Baird raised their target price on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group upped their price target on shares of 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, StockNews.com lowered Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $189.00.

Insider Transactions at Jack Henry & Associates

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction 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 trade represents a 11.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.37% of the company’s stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.