Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Jack Henry & Associates (NASDAQ:JKHY) Stock

Jack Henry & Associates (NASDAQ:JKHY) had its target price increased by investment analysts at Keefe, Bruyette & Woods from $200.00 to $215.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Keefe, Bruyette & Woods‘s target price indicates a potential upside of 19.03% from the stock’s current price.

Several other analysts have also recently issued reports on JKHY. Barclays upped their price objective on Jack Henry & Associates from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. UBS Group reiterated a “neutral” rating on shares of Jack Henry & Associates in a research report on Wednesday, September 16th. Stephens began coverage on Jack Henry & Associates in a report on Tuesday, August 11th. They issued an “overweight” rating and a $200.00 price target for the company. KeyCorp initiated coverage on Jack Henry & Associates in a research report on Monday, September 14th. They set an “overweight” rating and a $190.00 price target on the stock. Finally, Weiss Ratings upgraded Jack Henry & Associates from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.00.

Jack Henry & Associates Stock Up 0.8%

JKHY stock traded up $1.47 during mid-day trading on Thursday, hitting $180.63. 501,380 shares of the company were exchanged, compared to its average volume of 1,126,973. The company has a market capitalization of $12.66 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.00 and a beta of 0.55. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.02. Jack Henry & Associates has a twelve month low of $121.04 and a twelve month high of $193.39. The firm has a fifty day simple moving average of $156.74 and a 200 day simple moving average of $154.53.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.07 by $0.21. The business had revenue of $682.18 million for the quarter, compared to analysts’ expectations of $685.54 million. Jack Henry & Associates had a net margin of 19.96% and a return on equity of 24.38%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.97 earnings per share. On average, research analysts forecast that Jack Henry & Associates will post 7.30 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jack Henry & Associates

A number of large investors have recently bought and sold shares of the business. Lido Advisors LLC acquired a new stake in shares of Jack Henry & Associates during the 3rd quarter worth approximately $307,000. Keybank National Association OH lifted its holdings in shares of Jack Henry & Associates by 7.4% in the 3rd quarter. Keybank National Association OH now owns 3,146 shares of the technology company’s stock worth $451,000 after purchasing an additional 217 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Jack Henry & Associates by 5.8% in the 3rd quarter. New York Life Investment Management LLC now owns 19,893 shares of the technology company’s stock worth $2,849,000 after purchasing an additional 1,093 shares during the last quarter. AlphaCore Capital LLC boosted its position in Jack Henry & Associates by 235.2% during the 3rd quarter. AlphaCore Capital LLC now owns 5,196 shares of the technology company’s stock valued at $744,000 after purchasing an additional 3,646 shares during the period. Finally, Fulcrum Asset Management LLP boosted its position in Jack Henry & Associates by 2,567.3% during the 3rd quarter. Fulcrum Asset Management LLP now owns 1,307 shares of the technology company’s stock valued at $191,000 after purchasing an additional 1,258 shares during the period. Institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company that provides software, payment solutions and technology services to banks and credit unions. Its offerings are designed to support core banking operations, digital banking, account management, lending, payments, fraud prevention and other financial institution functions.

The company serves community and regional banks, credit unions and other financial services organizations in the United States. Its products are delivered through integrated platforms and services intended to help financial institutions manage daily operations, improve customer and member experiences, and connect with third-party financial technology providers.

Founded in 1976 and headquartered in Monett, Missouri, Jack Henry has expanded through internal development and acquisitions, including the 2004 acquisition of Symitar, a provider of core processing and related technology for credit unions.