Jack Henry & Associates (NASDAQ:JKHY) Downgraded by StockNews.com

Jack Henry & Associates (NASDAQ:JKHY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the company. Robert W. Baird upped their price objective on Jack Henry & Associates from $180.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wolfe Research started coverage on shares of Jack Henry & Associates in a report on Thursday, March 7th. They issued a “peer perform” rating for the company. TheStreet raised shares of Jack Henry & Associates from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada boosted their price objective on Jack Henry & Associates from $161.00 to $181.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $172.42.

Jack Henry & Associates Price Performance

Shares of NASDAQ JKHY opened at $165.60 on Friday. Jack Henry & Associates has a 52 week low of $136.57 and a 52 week high of $178.37. The business’s 50 day moving average price is $171.36 and its 200 day moving average price is $162.53. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.15. The firm has a market cap of $12.07 billion, a P/E ratio of 32.41, a P/E/G ratio of 3.86 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The firm had revenue of $545.70 million for the quarter, compared to analyst estimates of $540.34 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Jack Henry & Associates will post 5.11 earnings per share for the current year.

Institutional Investors Weigh In On Jack Henry & Associates

A number of large investors have recently made changes to their positions in the stock. NBC Securities Inc. purchased a new stake in Jack Henry & Associates in the 3rd quarter valued at $30,000. Planned Solutions Inc. acquired a new stake in Jack Henry & Associates during the fourth quarter worth about $33,000. Harbour Investments Inc. raised its stake in Jack Henry & Associates by 62.2% during the fourth quarter. Harbour Investments Inc. now owns 206 shares of the technology company’s stock worth $34,000 after purchasing an additional 79 shares during the period. Anchor Investment Management LLC acquired a new position in Jack Henry & Associates in the 4th quarter valued at about $35,000. Finally, West Tower Group LLC boosted its holdings in Jack Henry & Associates by 602.8% in the 4th quarter. West Tower Group LLC now owns 253 shares of the technology company’s stock valued at $41,000 after purchasing an additional 217 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

About Jack Henry & Associates

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.