Freedom Investment Management Inc. Purchases 85 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Freedom Investment Management Inc. raised its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,970 shares of the technology company’s stock after acquiring an additional 85 shares during the quarter. Freedom Investment Management Inc.’s holdings in Jack Henry & Associates were worth $345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JKHY. Raymond James Financial Inc. purchased a new stake in Jack Henry & Associates in the fourth quarter worth about $132,817,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Jack Henry & Associates by 95.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company’s stock worth $229,057,000 after purchasing an additional 643,697 shares in the last quarter. Invesco Ltd. lifted its holdings in Jack Henry & Associates by 29.9% in the 4th quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock worth $359,523,000 after purchasing an additional 471,507 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Jack Henry & Associates by 406.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 348,447 shares of the technology company’s stock worth $61,083,000 after purchasing an additional 279,628 shares during the period. Finally, Norges Bank bought a new position in shares of Jack Henry & Associates during the fourth quarter worth $48,834,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Down 1.8 %

Shares of NASDAQ JKHY opened at $168.72 on Tuesday. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $196.00. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 3.36 and a beta of 0.71. The stock has a 50 day moving average price of $174.51 and a 200 day moving average price of $175.96. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. Sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.58 per share. The ex-dividend date was Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a yield of 1.38%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio is currently 41.88%.

Wall Street Analysts Forecast Growth

Several research firms have commented on JKHY. Wells Fargo & Company initiated coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price objective for the company. William Blair restated an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. The Goldman Sachs Group raised shares of Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price objective for the company in a research note on Wednesday, April 2nd. Finally, Northcoast Research downgraded shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $186.45.

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.