Northwestern Mutual Wealth Management Co. Grows Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Northwestern Mutual Wealth Management Co. grew its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,216 shares of the technology company’s stock after purchasing an additional 254 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Jack Henry & Associates were worth $1,364,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Allianz Asset Management GmbH lifted its position in Jack Henry & Associates by 17.3% during the fourth quarter. Allianz Asset Management GmbH now owns 9,189 shares of the technology company’s stock valued at $1,502,000 after buying an additional 1,352 shares in the last quarter. Rafferty Asset Management LLC boosted its position in Jack Henry & Associates by 5.5% during the 4th quarter. Rafferty Asset Management LLC now owns 25,800 shares of the technology company’s stock worth $4,216,000 after purchasing an additional 1,356 shares during the period. Goldman Sachs Group Inc. boosted its position in Jack Henry & Associates by 32.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 705,582 shares of the technology company’s stock worth $115,299,000 after purchasing an additional 171,477 shares during the period. Tower Research Capital LLC TRC increased its holdings in Jack Henry & Associates by 101.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 21,486 shares of the technology company’s stock valued at $3,511,000 after purchasing an additional 10,814 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Jack Henry & Associates by 6.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 11,526 shares of the technology company’s stock valued at $1,883,000 after purchasing an additional 681 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JKHY. Keefe, Bruyette & Woods upped their target price on Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday, August 22nd. StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. 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 report on Friday, September 6th. Evercore ISI upped their target price on shares of 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. Finally, Compass Point started coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $180.00.

Jack Henry & Associates Price Performance

Shares of JKHY stock opened at $182.14 on Friday. The firm has a fifty day moving average of $171.45 and a two-hundred day moving average of $168.15. The firm has a market cap of $13.28 billion, a P/E ratio of 35.16, a P/E/G ratio of 3.09 and a beta of 0.64. Jack Henry & Associates, Inc. has a 1-year low of $136.57 and a 1-year high of $184.82. 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 announced its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The firm had revenue of $559.91 million during the quarter, compared to analyst estimates of $563.37 million. During the same period in the previous year, the company earned $1.34 earnings per share. As a group, research analysts anticipate that Jack Henry & Associates, Inc. will post 5.82 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is currently 42.47%.

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.