Jack Henry & Associates (NASDAQ:JKHY) Given Buy Rating at DA Davidson

DA Davidson reiterated their buy rating on shares of Jack Henry & Associates (NASDAQ:JKHY) in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a $198.00 target price on the technology company’s stock.

A number of other research analysts have also weighed in on the company. Citigroup initiated coverage on Jack Henry & Associates in a research note on Thursday, January 18th. They set a neutral rating and a $177.00 price target on the stock. Evercore ISI increased their price target on Jack Henry & Associates from $157.00 to $172.00 and gave the stock an in-line rating in a research note on Tuesday, March 26th. StockNews.com lowered Jack Henry & Associates from a buy rating to a hold rating in a research note on Saturday, April 20th. William Blair reissued an outperform rating on shares of Jack Henry & Associates in a research note on Wednesday, February 7th. Finally, Wolfe Research initiated coverage on Jack Henry & Associates in a research note on Thursday, March 7th. They set a peer perform rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Jack Henry & Associates currently has a consensus rating of Hold and a consensus target price of $174.42.

Jack Henry & Associates Price Performance

JKHY stock opened at $162.69 on Tuesday. Jack Henry & Associates has a 1 year low of $136.57 and a 1 year high of $178.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50 day moving average price is $170.17 and its 200 day moving average price is $163.62. The firm has a market cap of $11.86 billion, a P/E ratio of 31.84, a PEG ratio of 3.87 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Wednesday, February 7th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. 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 company earned $1.10 EPS. Jack Henry & Associates’s revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts expect that Jack Henry & Associates will post 5.11 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were issued a $0.55 dividend. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.52. This represents a $2.20 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, March 7th. Jack Henry & Associates’s dividend payout ratio is currently 43.05%.

Institutional Trading of Jack Henry & Associates

Large investors have recently added to or reduced their stakes in the stock. Planned Solutions Inc. acquired a new stake in Jack Henry & Associates in the 4th quarter valued at $33,000. NBC Securities Inc. acquired a new stake in Jack Henry & Associates in the 3rd quarter valued at $30,000. Anchor Investment Management LLC acquired a new stake in shares of Jack Henry & Associates during the fourth quarter valued at about $35,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Jack Henry & Associates during the fourth quarter valued at about $44,000. Finally, Riverview Trust Co acquired a new stake in shares of Jack Henry & Associates during the first quarter valued at about $51,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.