Lord Abbett & CO. LLC Increases Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Lord Abbett & CO. LLC raised its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 171,046 shares of the technology company’s stock after acquiring an additional 1,054 shares during the period. Lord Abbett & CO. LLC owned approximately 0.23% of Jack Henry & Associates worth $30,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. lifted its position in Jack Henry & Associates by 5.6% during the third quarter. Franklin Resources Inc. now owns 8,981 shares of the technology company’s stock worth $1,655,000 after buying an additional 475 shares in the last quarter. Synovus Financial Corp increased its stake in shares of Jack Henry & Associates by 2.2% in the 3rd quarter. Synovus Financial Corp now owns 16,102 shares of the technology company’s stock worth $2,843,000 after acquiring an additional 341 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Jack Henry & Associates by 0.8% during the 3rd quarter. Tidal Investments LLC now owns 11,776 shares of the technology company’s stock worth $2,079,000 after acquiring an additional 92 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Jack Henry & Associates during the 3rd quarter valued at about $26,000. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Jack Henry & Associates in the third quarter valued at about $279,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $179.80 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $13.12 billion, a P/E ratio of 32.93, a P/E/G ratio of 3.37 and a beta of 0.61. The stock has a 50-day moving average of $178.88 and a two-hundred day moving average of $172.12. Jack Henry & Associates, Inc. has a 1-year low of $157.00 and a 1-year high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The firm had revenue of $600.98 million during the quarter, compared to analysts’ expectations of $599.56 million. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.39 earnings per share. As a group, analysts anticipate that Jack Henry & Associates, Inc. will post 5.8 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, December 2nd. Jack Henry & Associates’s payout ratio is currently 40.29%.

Insider Activity at Jack Henry & Associates

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 138,665 shares in the company, valued at $23,756,087.80. This represents a 11.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on JKHY. Stephens reaffirmed an “equal weight” rating and set a $170.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. StockNews.com cut Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Oppenheimer began coverage on Jack Henry & Associates in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 target price on the stock. Finally, Royal Bank of Canada increased their price target 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. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $189.00.

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.