Jack Henry & Associates, Inc. (NASDAQ:JKHY) Sees Significant Decrease in Short Interest

Jack Henry & Associates, Inc. (NASDAQ:JKHY) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 2,070,000 shares, a decline of 14.1% from the August 31st total of 2,410,000 shares. Based on an average daily trading volume, of 435,200 shares, the short-interest ratio is presently 4.8 days. Approximately 2.9% of the company’s stock are short sold.

Hedge Funds Weigh In On Jack Henry & Associates

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strategic Financial Concepts LLC bought a new position in shares of Jack Henry & Associates during the 2nd quarter worth about $25,000. Tortoise Investment Management LLC increased its position in shares of Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after purchasing an additional 71 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Jack Henry & Associates during the 1st quarter worth about $30,000. Blue Trust Inc. increased its position in shares of Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Jack Henry & Associates during the 1st quarter worth about $51,000. 98.75% of the stock is owned by institutional investors.

Jack Henry & Associates Price Performance

Shares of Jack Henry & Associates stock opened at $175.99 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. Jack Henry & Associates has a fifty-two week low of $136.57 and a fifty-two week high of $178.37. The firm has a fifty day moving average price of $170.26 and a two-hundred day moving average price of $167.83. The company has a market cap of $12.83 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 3.09 and a beta of 0.64.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. The firm had revenue of $559.91 million during the quarter, compared to the consensus estimate of $563.37 million. During the same period in the prior year, the firm earned $1.34 EPS. Analysts expect that Jack Henry & Associates will post 5.82 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates’s payout ratio is 42.47%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Evercore ISI raised their price objective on Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $181.00 price objective on shares of Jack Henry & Associates in a research note on Friday, September 6th. Keefe, Bruyette & Woods upped their price objective on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, August 22nd. Compass Point initiated coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price objective for the company. Finally, StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $176.55.

Jack Henry & Associates Company Profile

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.