Thrive Wealth Management LLC Raises Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Thrive Wealth Management LLC lifted its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 17.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,469 shares of the technology company’s stock after acquiring an additional 217 shares during the quarter. Thrive Wealth Management LLC’s holdings in Jack Henry & Associates were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Planned Solutions Inc. bought a new position in Jack Henry & Associates in the 4th quarter worth $33,000. Anchor Investment Management LLC bought a new stake in shares of Jack Henry & Associates during the 4th quarter valued at $35,000. VisionPoint Advisory Group LLC bought a new position in Jack Henry & Associates in the 4th quarter worth $44,000. Riverview Trust Co purchased a new stake in Jack Henry & Associates in the 1st quarter worth $51,000. Finally, Federated Hermes Inc. bought a new stake in Jack Henry & Associates during the third quarter valued at about $72,000. Institutional investors own 98.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on JKHY. Evercore ISI boosted their price target on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research report on Tuesday. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, May 8th. Wolfe Research initiated coverage on Jack Henry & Associates in a research report on Thursday, March 7th. They issued a “peer perform” rating for the company. StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. Finally, DA Davidson reaffirmed a “buy” rating and set a $198.00 target price on shares of Jack Henry & Associates in a research note on Tuesday, April 30th. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $174.67.

Jack Henry & Associates Stock Performance

JKHY stock traded down $0.39 during trading on Thursday, hitting $166.72. 390,837 shares of the company traded hands, compared to its average volume of 438,679. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.39 and a quick ratio of 1.39. Jack Henry & Associates, Inc. has a 1 year low of $136.57 and a 1 year high of $178.37. The stock’s 50-day simple moving average is $165.24 and its 200 day simple moving average is $167.76. The company has a market cap of $12.15 billion, a PE ratio of 32.19, a P/E/G ratio of 4.30 and a beta of 0.62.

Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, May 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. The business had revenue of $538.56 million for the quarter, compared to analyst estimates of $541.80 million. Jack Henry & Associates had a net margin of 17.28% and a return on equity of 22.18%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 EPS. On average, equities analysts expect that Jack Henry & Associates, Inc. will post 5.19 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.20 annualized dividend and a yield of 1.32%. Jack Henry & Associates’s dividend payout ratio (DPR) 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.