Sumitomo Mitsui Trust Group Inc. Increases Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,675 shares of the technology company’s stock after acquiring an additional 9,537 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Jack Henry & Associates worth $30,484,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Strategic Financial Concepts LLC acquired a new position in Jack Henry & Associates during the 2nd quarter worth $25,000. Tortoise Investment Management LLC boosted its stake in shares of Jack Henry & Associates by 76.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after buying an additional 71 shares during the period. New Covenant Trust Company N.A. acquired a new position in shares of Jack Henry & Associates during the first quarter worth about $30,000. Blue Trust Inc. increased its stake in shares of Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after buying an additional 134 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in Jack Henry & Associates in the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. William Blair cut shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted 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 research report on Thursday, November 7th. Oppenheimer started coverage on shares of 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. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Stephens restated an “equal weight” rating and set a $170.00 target price on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Jack Henry & Associates presently has a consensus rating of “Hold” and an average price target of $188.73.

Jack Henry & Associates Stock Performance

Shares of JKHY opened at $173.21 on Friday. Jack Henry & Associates, Inc. has a 1 year low of $151.05 and a 1 year high of $189.63. The company’s 50 day simple moving average is $179.46 and its 200 day simple moving average is $170.93. The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 3.29 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.11.

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

Jack Henry & Associates Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio (DPR) is 40.29%.

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.