Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia increased its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 755.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 101,809 shares of the technology company’s stock after buying an additional 89,907 shares during the quarter. Bank of Nova Scotia’s holdings in Jack Henry & Associates were worth $17,847,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Jack Henry & Associates in the fourth quarter worth about $132,817,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Jack Henry & Associates by 95.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company’s stock worth $229,057,000 after purchasing an additional 643,697 shares during the period. Invesco Ltd. raised its position in 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 Jack Henry & Associates by 406.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 348,447 shares of the technology company’s stock worth $61,083,000 after acquiring an additional 279,628 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Jack Henry & Associates in the fourth quarter valued at $48,834,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $170.71 on Thursday. The company has a market capitalization of $12.44 billion, a P/E ratio of 30.81, a P/E/G ratio of 3.36 and a beta of 0.71. The company has a fifty day moving average of $174.70 and a 200-day moving average of $176.27. 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.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts predict that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were given a dividend of $0.58 per share. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a yield of 1.36%. Jack Henry & Associates’s dividend payout ratio (DPR) is 41.88%.

Wall Street Analysts Forecast Growth

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

About Jack Henry & Associates

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.