Jack Henry stock hits 52-week high

Jack Henry & Associates Inc. stock hit a 52-week high this morning of $47.81, on the heels of its most recent quarterly report.

The Monett technology firm (Nasdaq: JKHY) boosted its quarterly cash dividend on May 6 by 54 percent to 20 cents per share. The dividend is payable May 30 to stockholders of record as of May 17. As of April 30, there were 86.1 million shares of common stock outstanding, according to a news release.

Last week, the company reported third-quarter earnings of $46 million, a 25 percent increase compared to net income of $36.7 million in the same quarter of 2012.

Jack Henry's diluted earnings per share amounted to 53 cents for the quarter ended March 31, an 11-cent uptick, according to a separate release.

"The results this quarter are much like those of the last several quarters, with solid performances across all areas of the company. Revenue growth was very strong, with double digit gains in license fees, implementation and payments," company CEO Jack Prim said in the release.

Jack Henry third-quarter financial notes:

• Revenues increased 10 percent to $281.5 million from $256.3 million in the prior fiscal year.
• Cost of sales increased 9 percent to $167 million, resulting in a gross profit of $114.6 million.
• The company's cash and cash equivalent increased 8 percent to $623.5 million by the end of the quarter.

Near the end of its third quarter, Jack Henry nabbed two multibillion-dollar clients, Spokane, Wash.-based Washington Trust Bank, with $4.3 billion in assets; and Raleigh, N.C.-based Coastal Credit Union, with $2.2 billion in assets.

As of March 31, Jack Henry's assets were $1.6 billion, according to the release. The JKHY 52-week low is $32.17.