Sterling Capital Management LLC Has $753,000 Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Sterling Capital Management LLC increased its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 55.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,298 shares of the technology company’s stock after purchasing an additional 1,533 shares during the period. Sterling Capital Management LLC’s holdings in Jack Henry & Associates were worth $753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JKHY. Raymond James Financial Inc. bought a new stake in shares of Jack Henry & Associates in the 4th quarter valued at $132,817,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Jack Henry & Associates by 95.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company’s stock valued at $229,057,000 after acquiring an additional 643,697 shares during the period. Invesco Ltd. increased its holdings in shares of Jack Henry & Associates by 29.9% in the fourth quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock worth $359,523,000 after acquiring an additional 471,507 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Jack Henry & Associates by 406.3% during the fourth 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 4th quarter valued at about $48,834,000. Institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. The Goldman Sachs Group upgraded shares of Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price objective on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company began coverage on shares of Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 target price for the company. Finally, Northcoast Research downgraded Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $186.45.

Jack Henry & Associates Stock Performance

JKHY opened at $171.88 on Thursday. The business’s 50-day simple moving average is $174.56 and its 200 day simple moving average is $176.22. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $196.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $12.53 billion, a PE ratio of 31.03, a PEG ratio of 3.36 and a beta of 0.71.

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

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were paid a $0.58 dividend. The ex-dividend date was Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a yield of 1.35%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 41.88%.

Jack Henry & Associates Company Profile

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.