Synovus Financial Corp bought a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) during the third quarter, Holdings Channel reports. The institutional investor bought 7,089 shares of the company’s stock, valued at approximately $610,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JKHY. National Planning Corp increased its position in Jack Henry & Associates by 0.3% in the second quarter. National Planning Corp now owns 3,497 shares of the company’s stock valued at $310,000 after buying an additional 12 shares during the period. McQueen Ball & Associates Inc. increased its position in Jack Henry & Associates by 0.3% in the third quarter. McQueen Ball & Associates Inc. now owns 8,885 shares of the company’s stock valued at $760,000 after buying an additional 29 shares during the period. Calvert Investment Management Inc. increased its position in Jack Henry & Associates by 1.1% in the second quarter. Calvert Investment Management Inc. now owns 3,930 shares of the company’s stock valued at $343,000 after buying an additional 42 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Jack Henry & Associates by 1.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 6,953 shares of the company’s stock valued at $595,000 after buying an additional 68 shares during the period. Finally, Seven Bridges Advisors LLC increased its position in Jack Henry & Associates by 1.9% in the second quarter. Seven Bridges Advisors LLC now owns 3,897 shares of the company’s stock valued at $340,000 after buying an additional 72 shares during the period. 87.63% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

Jack Henry & Associates, Inc. (NASDAQ:JKHY) traded up 1.42% during mid-day trading on Friday, reaching $90.54. 180,848 shares of the company’s stock traded hands. The stock has a 50 day moving average of $88.74 and a 200 day moving average of $86.49. Jack Henry & Associates, Inc. has a 12-month low of $73.19 and a 12-month high of $91.34. The company has a market cap of $7.07 billion, a P/E ratio of 27.66 and a beta of 0.67.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Monday, November 7th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Jack Henry & Associates had a net margin of 18.85% and a return on equity of 27.13%. The business had revenue of $345 million for the quarter, compared to analysts’ expectations of $335.65 million. During the same period last year, the business earned $0.64 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Jack Henry & Associates, Inc. will post $3.10 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Thursday, December 1st were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Tuesday, November 29th. Jack Henry & Associates’s payout ratio is currently 34.25%.

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Several research firms recently commented on JKHY. Zacks Investment Research downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Wednesday. Stephens set a $90.00 target price on shares of Jack Henry & Associates and gave the stock a “hold” rating in a research note on Wednesday, November 9th. Five research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $89.33.

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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