Meiji Yasuda Asset Management Co Ltd. Has $3.94 Million Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Meiji Yasuda Asset Management Co Ltd. raised its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,738 shares of the technology company’s stock after buying an additional 478 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Jack Henry & Associates were worth $3,941,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in JKHY. TD Asset Management Inc raised its stake in shares of Jack Henry & Associates by 327.7% during the fourth quarter. TD Asset Management Inc now owns 544,781 shares of the technology company’s stock valued at $89,023,000 after acquiring an additional 417,401 shares during the last quarter. APG Asset Management US Inc. bought a new position in Jack Henry & Associates during the fourth quarter worth $54,552,000. Balyasny Asset Management L.P. raised its stake in Jack Henry & Associates by 96.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 565,659 shares of the technology company’s stock worth $92,434,000 after buying an additional 277,945 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in Jack Henry & Associates by 250.4% during the fourth quarter. Epoch Investment Partners Inc. now owns 291,514 shares of the technology company’s stock worth $47,636,000 after buying an additional 208,322 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Jack Henry & Associates by 188.4% during the second quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock worth $46,819,000 after buying an additional 184,210 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analysts Set New Price Targets

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

Jack Henry & Associates Stock Down 0.8 %

Shares of NASDAQ JKHY opened at $174.21 on Thursday. The stock has a market capitalization of $12.70 billion, a P/E ratio of 33.63, a P/E/G ratio of 3.09 and a beta of 0.64. The company has a 50-day moving average price of $169.32 and a 200-day moving average price of $167.81. Jack Henry & Associates, Inc. has a 1 year low of $136.57 and a 1 year high of $178.37. 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 (NASDAQ:JKHY) last issued its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. The firm had revenue of $559.91 million during the quarter, compared to analysts’ expectations of $563.37 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. During the same period last year, the company earned $1.34 earnings per share. On average, equities research analysts forecast that Jack Henry & Associates, Inc. will post 5.79 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is currently 42.47%.

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.