BlackRock Fund Advisors recently announced the acquisition of new stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY). The institutional investor has increased its shareholding in the Technology company by 0.67% to 5.34 million shares with purchase of 35505.0 shares. This fresh investment now brings its stake to 7.33% valued currently at $847.2 million. In addition, Kayne Anderson Rudnick Investment raised its holdings by 46534.0 to 3.74 million shares. And CIBC Private Wealth Advisors, Inc has lifted its position by 0.02% or 396.0 shares – to 1.92 million shares.
With over 0.45 million Jack Henry & Associates, Inc. (JKHY) shares trading Friday and a closing price of $165.08 on the day, the dollar volume was approximately $73.87 million. The shares have shown a positive half year performance of 0.86% and its price on 12/22/23 gained nearly 1.11%. Currently, there are 72.89M common shares owned by the public and among those 72.36M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for JKHY have a consensus price objective of $165.62. The analysts have set the share’s price value over the next 12 months at a high of $190.00 and a low of $140.00. The average price target is 0.33% above its recent price level and a downside to the estimated low will see the stock lose -17.91% over that period. But an upside of 13.12% will see the stock hit the forecast high price target while median target price for the stock is $162.00.
Insiders at the company have transacted a total of 59 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 46,315 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 14,475 shares.
The top 3 mutual fund holders in Jack Henry & Associates, Inc. are Stichting Pensioenfonds ABP, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Stichting Pensioenfonds ABP owns 3.59 million shares of the company’s stock, all valued at over $570.13 million. The company bought an additional 2.02 million shares recently to bring their total holdings to about 4.93% of the shares outstanding. Vanguard Total Stock Market ETF bought 2759.0 shares to see its total holdings expand to 2.29 million shares valued at over $363.04 million and representing 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 7759.0 shares to bring its total holdings to over 1.76 million shares at a value of $279.17 million. Vanguard 500 Index Fund now owns shares totaling to 2.42% of the shares outstanding.
Shares of Jack Henry & Associates, Inc. (NASDAQ: JKHY) opened at $163.81, up $0.54 from a prior closing price of $163.27. However, the script later moved the day high at 165.57, up 1.11%. The company’s stock has a 5-day price change of 0.44% and 11.74% over the past three months. JKHY shares are trading -5.97% year to date (YTD), with the 12-month market performance down to -7.41% lower. It has a 12-month low price of $136.57 and touched a high of $184.18 over the same period. JKHY has an average intraday trading volume of 558.60K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.74%, 8.02%, and 5.89% respectively.
Institutional ownership of Jack Henry & Associates, Inc. (NASDAQ: JKHY) shares accounts for 96.04% of the company’s 72.89M shares outstanding. Mutual fund holders own 50.39%, while other institutional holders and individual stakeholders account for 9.22% and 46.41% respectively.
It has a market capitalization of $12.02B and a beta (3y monthly) value of 0.66. The stock’s trailing 12-month PE ratio is 33.34, while the earnings-per-share (ttm) stands at $4.95. The company has a PEG of 4.70 and a Quick Ratio of 1.03 with the debt-to-equity ratio at 0.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.76% over the week and 1.76% over the month.
Analysts forecast that Jack Henry & Associates, Inc. (JKHY) will achieve an EPS of $1.13 for the current quarter, $1.17 for the next quarter and $5.62 for 2025. The lowest estimate earnings-per-share for the quarter is $1.07 while analysts give the company a high EPS estimate of $1.21. Comparatively, EPS for the current quarter was $1.1 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.11%, and 12.36% over the next financial year. EPS should grow at an annualized rate of 7.10% over the next five years, compared to 1.29% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Jack Henry & Associates, Inc. (JKHY) as a “Moderate Buy” at a consensus score of 2.62. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 9 of the 16 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the JKHY, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on December 06, 2023, with the firm’s price target at $167-$186.
