Watershed Asset Management L.L.C. Takes Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Watershed Asset Management L.L.C. purchased a new stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,727 shares of the technology company’s stock, valued at approximately $282,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Jack Henry & Associates in the 3rd quarter valued at $30,000. Planned Solutions Inc. bought a new stake in Jack Henry & Associates in the 4th quarter valued at $33,000. Anchor Investment Management LLC bought a new stake in Jack Henry & Associates in the 4th quarter valued at $35,000. Federated Hermes Inc. bought a new stake in Jack Henry & Associates in the 3rd quarter valued at $72,000. Finally, GAMMA Investing LLC bought a new stake in Jack Henry & Associates in the 4th quarter valued at $79,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of JKHY stock traded up $1.64 on Tuesday, reaching $166.48. The stock had a trading volume of 297,528 shares, compared to its average volume of 429,431. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $171.02 and its two-hundred day moving average is $162.98. The firm has a market capitalization of $12.13 billion, a price-to-earnings ratio of 32.58, a P/E/G ratio of 3.88 and a beta of 0.66. Jack Henry & Associates, Inc. has a 12 month low of $136.57 and a 12 month high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Wednesday, February 7th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12. The company had revenue of $545.70 million for the quarter, compared to analysts’ expectations of $540.34 million. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. Jack Henry & Associates’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, research analysts expect that Jack Henry & Associates, Inc. will post 5.11 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, March 7th. Jack Henry & Associates’s dividend payout ratio is presently 43.05%.

Analysts Set New Price Targets

Several research firms recently commented on JKHY. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, February 7th. Citigroup began coverage on shares of Jack Henry & Associates in a research report on Thursday, January 18th. They issued a “neutral” rating and a $177.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Royal Bank of Canada boosted their price objective on shares of Jack Henry & Associates from $161.00 to $181.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Finally, StockNews.com cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $172.42.

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.