RWA Wealth Partners LLC has reduced its stake in Jack Henry & Associates, Inc. (NASDAQ: JKHY) by 9.3% during the second quarter of the fiscal year. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC), RWA Wealth Partners now holds 4,700 shares of the technology company after selling 483 shares within the quarter. The value of their holdings at the end of the period was approximately $847,000.
Several other institutional investors have also adjusted their stakes in Jack Henry & Associates recently. AGF Management Ltd. increased its holdings by 8.0%, now owning 16,644 shares valued at $2,999,000 after acquiring an additional 1,235 shares. AE Wealth Management LLC raised its stake by 24.2%, bringing its total to 1,475 shares, worth $266,000 following an acquisition of 287 shares.
Achmea Investment Management B.V. made a notable increase of 112.2%, now holding 12,650 shares valued at $2,280,000 after purchasing an additional 6,689 shares. Similarly, Sienna Gestion grew its stake by 11.0%, owning 31,925 shares worth $5,251,000 after acquiring 3,174 shares. Finally, Andra AP fonden expanded its holdings by 67.6%, now owning 15,670 shares valued at $2,823,000 after purchasing an additional 6,319 shares. Institutional investors collectively own 98.75% of the company’s stock.
Analysts Adjust Price Targets for Jack Henry & Associates
Wall Street analysts have recently provided updated forecasts for Jack Henry & Associates shares. The Goldman Sachs Group increased its price target from $155.00 to $175.00, maintaining a “neutral” rating. Meanwhile, Compass Point upgraded the stock from a “neutral” to a “buy” rating, with a new target price set at $187.00.
Weiss Ratings reaffirmed a “hold (c)” rating on the shares, while DA Davidson lowered its price objective from $204.00 to $190.00, also rating it as a “buy.” Keefe, Bruyette & Woods adjusted their target from $178.00 to $170.00, setting a “market perform” rating. Currently, three analysts have rated the stock as a “buy,” while eight analysts suggest holding the stock. According to data from MarketBeat, the average rating stands at “hold,” with a target price of $177.25.
Jack Henry & Associates Reports Earnings and Declares Dividend
On November 4, 2024, Jack Henry & Associates reported its quarterly earnings, revealing an earnings per share (EPS) of $1.97, exceeding analysts’ consensus estimates of $1.64 by $0.33. The company’s revenue for the quarter reached $636.11 million, slightly above the consensus estimate of $634.42 million. The firm experienced a net margin of 19.19% and a return on equity of 22.60%, with a year-over-year revenue increase of 7.3%.
Looking ahead, Jack Henry & Associates has set its fiscal year 2026 guidance at an EPS range of $6.380 to $6.490. Analysts project that the company will report an EPS of $5.83 for the current year.
In addition to its earnings report, Jack Henry & Associates announced a quarterly dividend of $0.58 per share, paid on September 26, 2024. Investors on record as of September 5 received this dividend. This equates to an annualized dividend of $2.32, representing a yield of 1.4%. The company’s current payout ratio stands at 35.26%.
Jack Henry & Associates, Inc. provides technology solutions and payment processing services primarily for the financial sector. The company operates through several segments, including Core, Payments, Complementary, and Corporate and Other, contributing to its robust market position.
