Icon Wealth Advisors LLC Boosts Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Icon Wealth Advisors LLC grew its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 394.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,514 shares of the technology company’s stock after buying an additional 4,399 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Jack Henry & Associates were worth $973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Jack Henry & Associates by 188.4% during the 2nd quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock worth $46,819,000 after purchasing an additional 184,210 shares during the last quarter. Mackenzie Financial Corp boosted its position in Jack Henry & Associates by 51.4% during the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock worth $83,665,000 after acquiring an additional 171,041 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Jack Henry & Associates by 6,680.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after acquiring an additional 113,696 shares during the period. Tandem Investment Advisors Inc. grew its stake in Jack Henry & Associates by 20.4% in the 2nd 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 period. Finally, SG Americas Securities LLC raised its holdings in Jack Henry & Associates by 207.3% in the 2nd quarter. SG Americas Securities LLC now owns 122,075 shares of the technology company’s stock valued at $20,267,000 after acquiring an additional 82,351 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

JKHY has been the subject of several analyst reports. StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Oppenheimer initiated coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their target price 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, UBS Group increased 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 note on Thursday, November 7th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $188.73.

Jack Henry & Associates Stock Performance

Shares of JKHY opened at $172.50 on Friday. The stock has a market capitalization of $12.59 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 3.25 and a beta of 0.63. The business’s fifty day moving average price is $179.27 and its 200 day moving average price is $171.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11. Jack Henry & Associates, Inc. has a 12-month low of $151.93 and a 12-month high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The company had revenue of $600.98 million for the quarter, compared to the consensus estimate of $599.56 million. During the same period last year, the firm posted $1.39 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Jack Henry & Associates, Inc. will post 5.8 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders 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 dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 40.29%.

Insider Transactions at Jack Henry & Associates

In related news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the sale, the insider now directly owns 138,665 shares in the company, valued at $23,756,087.80. This trade represents a 11.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.