StockNews.com Upgrades Jack Henry & Associates (NASDAQ:JKHY) to “Buy”

StockNews.com upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a hold rating to a buy rating in a research report report published on Friday morning.

Several other research analysts have also commented on JKHY. Compass Point started coverage on Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and set a $170.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Royal Bank of Canada boosted their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. UBS Group raised their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Oppenheimer started coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $188.73.

Jack Henry & Associates Stock Down 0.7 %

Shares of NASDAQ JKHY opened at $172.06 on Friday. The stock has a market cap of $12.55 billion, a PE ratio of 31.38, a P/E/G ratio of 3.26 and a beta of 0.63. The company has a current ratio of 1.11, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. Jack Henry & Associates has a 12-month low of $151.59 and a 12-month high of $189.63. The company has a 50-day moving average of $179.46 and a 200 day moving average of $171.05.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The business had revenue of $600.98 million during the quarter, compared to analyst estimates of $599.56 million. During the same period in the prior year, the business earned $1.39 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Jack Henry & Associates will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.28%. Jack Henry & Associates’s payout ratio is presently 40.29%.

Institutional Investors Weigh In On Jack Henry & Associates

Several institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in Jack Henry & Associates by 0.8% during the first quarter. Russell Investments Group Ltd. now owns 46,872 shares of the technology company’s stock worth $8,138,000 after purchasing an additional 391 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Jack Henry & Associates by 8.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 6,174 shares of the technology company’s stock worth $1,073,000 after buying an additional 476 shares during the period. Koshinski Asset Management Inc. purchased a new stake in Jack Henry & Associates during the 1st quarter worth approximately $206,000. State Board of Administration of Florida Retirement System lifted its holdings in Jack Henry & Associates by 4.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 91,114 shares of the technology company’s stock worth $15,829,000 after buying an additional 4,252 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Jack Henry & Associates by 33.7% in the 1st quarter. Blair William & Co. IL now owns 11,038 shares of the technology company’s stock valued at $1,918,000 after buying an additional 2,780 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Company Profile

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.