Allstate Corp Takes Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Allstate Corp acquired a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,050 shares of the technology company’s stock, valued at approximately $359,000.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Jack Henry & Associates by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after acquiring an additional 131,515 shares during the period. Enterprise Financial Services Corp bought a new stake in shares of Jack Henry & Associates in the 4th quarter worth about $900,000. Andra AP fonden increased its position in shares of Jack Henry & Associates by 10.7% during the 4th quarter. Andra AP fonden now owns 29,900 shares of the technology company’s stock worth $5,241,000 after purchasing an additional 2,900 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Jack Henry & Associates by 50.8% during the 4th quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock worth $136,720,000 after purchasing an additional 263,021 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY lifted its holdings in Jack Henry & Associates by 21.4% during the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 121,782 shares of the technology company’s stock valued at $21,348,000 after purchasing an additional 21,466 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Jack Henry & Associates Price Performance

Shares of JKHY stock opened at $184.11 on Thursday. The firm has a market cap of $13.42 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 3.36 and a beta of 0.65. Jack Henry & Associates, Inc. has a 12 month low of $157.00 and a 12 month high of $196.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $175.24 and a 200 day moving average price of $176.49.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 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%. Research analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th were paid a $0.58 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio is 41.88%.

Analysts Set New Price Targets

Several brokerages have weighed in on JKHY. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Wells Fargo & Company started coverage on Jack Henry & Associates in a research report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price target on the stock. The Goldman Sachs Group raised Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price target for the company in a report on Wednesday. Finally, Northcoast Research lowered Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Jack Henry & Associates currently has an average rating of “Hold” and an average price target of $186.45.

Jack Henry & Associates 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.