5 Best-Performing Tech Stocks of 2022

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1. Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Number of Hedge Fund Holders: 17

YTD Share Price Gain as of September 15: 16.39%

Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a Missouri-based provider of technology solutions and payment processing services for financial organizations in the United States. On August 22, Jack Henry & Associates, Inc. (NASDAQ:JKHY) declared a $0.49 per share quarterly dividend, in line with previous. The dividend is distributable on September 29, to shareholders of the company as of September 9. The stock has climbed over 16% year to date as of September 15, making Jack Henry & Associates, Inc. (NASDAQ:JKHY) one of the best-performing tech stocks for 2022. 

RBC Capital analyst Daniel Perlin on August 18 raised the price target on Jack Henry & Associates, Inc. (NASDAQ:JKHY) to $199 from $190 but kept a Sector Perform rating on the shares. Despite record sales by the company in FQ4 and expected higher annual demand, multiple cost pressures will potentially result in flat margins in FY23, the analyst told investors in a research note. He added that Jack Henry & Associates, Inc. (NASDAQ:JKHY)’s latest acquisition of Payrailz will be slightly dilutive to FY23 EPS.

Among the hedge funds tracked by Insider Monkey, 17 funds were bullish on Jack Henry & Associates, Inc. (NASDAQ:JKHY) at the end of June 2022, compared to 16 funds in the last quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the leading stakeholder of the company, with 266,500 shares worth $48 million. 

Here is what Conestoga Capital Advisors has to say about Jack Henry & Associates, Inc. (NASDAQ:JKHY) in its Q4 2020 investor letter:

“This company provides core processing and other complementary software solutions to small and medium-sized banks and credit unions. Despite reporting solid fiscal first quarter results, improved business momentum and modestly higher annual guidance, the stock was mostly unchanged during the quarter and detracted from performance in the strong tape.”

You can also take a look at 12 Best Medical Device Stocks To Buy Now and Best Robotics Stocks To Invest In

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