VELA Investment Management LLC Buys 29,004 Shares of Jack Henry & Associates, Inc. $JKHY

VELA Investment Management LLC raised its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 77.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,665 shares of the technology company’s stock after buying an additional 29,004 shares during the quarter. Jack Henry & Associates makes up approximately 2.0% of VELA Investment Management LLC’s investment portfolio, making the stock its 7th largest position. VELA Investment Management LLC owned about 0.09% of Jack Henry & Associates worth $9,182,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Paralel Advisors LLC acquired a new position in shares of Jack Henry & Associates during the 2nd quarter valued at about $2,016,000. Greenland Capital Management LP acquired a new stake in Jack Henry & Associates during the second quarter worth about $838,000. denkapparat Operations GmbH increased its position in Jack Henry & Associates by 138.5% during the second quarter. denkapparat Operations GmbH now owns 7,628 shares of the technology company’s stock worth $1,051,000 after purchasing an additional 4,430 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in Jack Henry & Associates by 3.5% during the second quarter. TD Waterhouse Canada Inc. now owns 2,975 shares of the technology company’s stock worth $424,000 after purchasing an additional 100 shares during the period. Finally, Concurrent Investment Advisors LLC raised its stake in Jack Henry & Associates by 8.6% during the second quarter. Concurrent Investment Advisors LLC now owns 6,177 shares of the technology company’s stock worth $851,000 after purchasing an additional 489 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock opened at $165.64 on Monday. Jack Henry & Associates, Inc. has a fifty-two week low of $121.04 and a fifty-two week high of $193.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50 day moving average price of $155.39 and a 200 day moving average price of $151.12. The company has a market capitalization of $11.61 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.87 and a beta of 0.56.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.13. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.The company had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $631.60 million. During the same period in the prior year, the firm earned $1.75 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. Research analysts expect that Jack Henry & Associates, Inc. will post 7.37 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Monday, September 7th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.44 annualized dividend and a yield of 1.5%. Jack Henry & Associates’s dividend payout ratio is presently 35.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JKHY. Wolfe Research increased their price target on shares of Jack Henry & Associates from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Royal Bank Of Canada upped their price objective on Jack Henry & Associates from $173.00 to $178.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. The Goldman Sachs Group increased their price objective on Jack Henry & Associates from $158.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Barclays raised their target price on Jack Henry & Associates from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Finally, Stephens reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Jack Henry & Associates in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Jack Henry & Associates presently has an average rating of “Moderate Buy” and a consensus target price of $193.40.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company’s core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.