Jack Henry & Associates, Inc. (NASDAQ:JKHY) Declares Dividend Increase – $0.55 Per Share

Jack Henry & Associates, Inc. (NASDAQ:JKHYGet Free Report) declared a quarterly dividend on Monday, February 12th, RTT News reports. Investors of record on Friday, March 8th will be paid a dividend of 0.55 per share by the technology company on Tuesday, March 26th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.52.

Jack Henry & Associates has raised its dividend by an average of 6.5% per year over the last three years and has increased its dividend every year for the last 33 years. Jack Henry & Associates has a dividend payout ratio of 36.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Jack Henry & Associates to earn $5.66 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 36.7%.

Jack Henry & Associates Price Performance

Shares of NASDAQ JKHY traded up $1.36 during trading hours on Monday, reaching $177.29. 32,906 shares of the stock traded hands, compared to its average volume of 504,059. The company has a market capitalization of $12.92 billion, a P/E ratio of 34.43, a price-to-earnings-growth ratio of 4.12 and a beta of 0.65. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.15. Jack Henry & Associates has a 52-week low of $136.57 and a 52-week high of $178.37. The company’s 50-day simple moving average is $166.25 and its two-hundred day simple moving average is $158.19.

Jack Henry & Associates (NASDAQ:JKHYGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.26 earnings per share 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 return on equity of 22.67% and a net margin of 17.26%. Jack Henry & Associates’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $1.10 EPS. Equities research analysts forecast that Jack Henry & Associates will post 5.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JKHY. Robert W. Baird reaffirmed a “neutral” rating and issued a $176.00 price target on shares of Jack Henry & Associates in a research note on Tuesday, January 30th. TheStreet raised Jack Henry & Associates from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. StockNews.com raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Oppenheimer decreased their price target on Jack Henry & Associates from $180.00 to $168.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 18th. Finally, Royal Bank of Canada lifted their price target on Jack Henry & Associates from $161.00 to $181.00 and gave the stock a “sector perform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Jack Henry & Associates presently has a consensus rating of “Hold” and an average price target of $170.92.

Check Out Our Latest Stock Analysis on JKHY

Insider Activity

In related news, SVP Stacey E. Zengel sold 326 shares of Jack Henry & Associates stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $165.10, for a total transaction of $53,822.60. Following the sale, the senior vice president now directly owns 5,410 shares in the company, valued at $893,191. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Jack Henry & Associates

Several hedge funds have recently made changes to their positions in JKHY. Morgan Stanley boosted its holdings in Jack Henry & Associates by 117.1% in the fourth quarter. Morgan Stanley now owns 1,709,702 shares of the technology company’s stock worth $300,155,000 after acquiring an additional 922,054 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Jack Henry & Associates by 24.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,640,497 shares of the technology company’s stock worth $548,696,000 after acquiring an additional 726,875 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Jack Henry & Associates by 19.1% in the first quarter. JPMorgan Chase & Co. now owns 1,900,968 shares of the technology company’s stock worth $286,513,000 after acquiring an additional 304,400 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Jack Henry & Associates by 523.8% in the first quarter. Baird Financial Group Inc. now owns 246,806 shares of the technology company’s stock worth $48,633,000 after acquiring an additional 207,243 shares in the last quarter. Finally, National Pension Service bought a new stake in Jack Henry & Associates in the first quarter worth $25,616,000. 92.53% of the stock is currently owned by institutional investors.

About Jack Henry & Associates

(Get Free Report)

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.

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Dividend History for Jack Henry & Associates (NASDAQ:JKHY)

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