First Merchants Corp boosted its stake in shares of Jack Henry & Associates Inc. (NASDAQ:JKHY) by 6.2% during the second quarter, Holdings Channel reports. The fund owned 39,685 shares of the company’s stock after buying an additional 2,310 shares during the period. Jack Henry & Associates comprises approximately 1.1% of First Merchants Corp’s portfolio, making the stock its 24th largest position. First Merchants Corp’s holdings in Jack Henry & Associates were worth $3,463,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. TIAA CREF Investment Management LLC increased its position in shares of Jack Henry & Associates by 25.9% in the first quarter. TIAA CREF Investment Management LLC now owns 285,310 shares of the company’s stock valued at $24,129,000 after buying an additional 58,741 shares during the last quarter. Ngam Advisors L.P. increased its position in shares of Jack Henry & Associates by 4.1% in the first quarter. Ngam Advisors L.P. now owns 26,541 shares of the company’s stock valued at $2,245,000 after buying an additional 1,051 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Jack Henry & Associates by 35.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 123,493 shares of the company’s stock valued at $10,444,000 after buying an additional 32,166 shares during the last quarter. CIBC World Markets Inc. purchased a new position in shares of Jack Henry & Associates during the first quarter valued at approximately $765,000. Finally, Virginia Retirement System purchased a new position in shares of Jack Henry & Associates during the first quarter valued at approximately $829,000. Institutional investors own 86.86% of the company’s stock.

Jack Henry & Associates Inc. (NASDAQ:JKHY) traded up 0.17% during midday trading on Tuesday, reaching $85.93. 192,779 shares of the company’s stock traded hands. Jack Henry & Associates Inc. has a 1-year low of $68.09 and a 1-year high of $89.89. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 27.54 and a beta of 0.64. The firm’s 50-day moving average is $87.65 and its 200-day moving average is $85.17.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, August 16th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.26. The business had revenue of $367 million for the quarter, compared to the consensus estimate of $355.40 million. Jack Henry & Associates had a net margin of 18.37% and a return on equity of 26.11%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. Analysts forecast that Jack Henry & Associates Inc. will post $3.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 27th. Stockholders of record on Wednesday, September 7th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, September 2nd. Jack Henry & Associates’s dividend payout ratio is currently 35.90%.

Several equities research analysts have issued reports on JKHY shares. Oppenheimer Holdings Inc. cut shares of Jack Henry & Associates from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 24th. They noted that the move was a valuation call. Citigroup Inc. cut shares of Jack Henry & Associates from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 24th. Finally, Zacks Investment Research cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Five research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $91.00.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a provider of information processing solutions for community banks. The Company offers a range of products and services, including processing transactions, automating business processes, and managing information financial institutions and diverse corporate entities. It operates in two segments: bank systems and services (Bank) and credit union systems and services (Credit Union).

5 Day Chart for NASDAQ:JKHY

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