Keefe, Bruyette & Woods Cuts Jack Henry & Associates (NASDAQ:JKHY) Price Target to $183.00

Jack Henry & Associates (NASDAQ:JKHY) had its price target trimmed by Keefe, Bruyette & Woods from $190.00 to $183.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a market perform rating on the technology company’s stock.

JKHY has been the subject of a number of other research reports. Northcoast Research lowered Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research report on Monday, March 10th. The Goldman Sachs Group upgraded Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 target price on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company initiated coverage on Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price target for the company. Finally, William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $184.10.

Jack Henry & Associates Stock Performance

Jack Henry & Associates stock opened at $180.96 on Thursday. The stock’s 50 day moving average is $175.19 and its 200 day moving average is $175.03. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $13.19 billion, a P/E ratio of 32.66, a PEG ratio of 3.36 and a beta of 0.75. Jack Henry & Associates has a twelve month low of $157.00 and a twelve month high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.23. The business had revenue of $585.09 million during the quarter, compared to the consensus estimate of $585.84 million. Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. On average, equities research analysts predict that Jack Henry & Associates will post 5.83 earnings per share for the current fiscal year.

Institutional Trading of Jack Henry & Associates

A number of hedge funds and other institutional investors have recently bought and sold shares of JKHY. Axxcess Wealth Management LLC boosted its holdings in shares of Jack Henry & Associates by 2.3% in the first quarter. Axxcess Wealth Management LLC now owns 2,622 shares of the technology company’s stock valued at $479,000 after acquiring an additional 59 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Jack Henry & Associates by 2.1% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,115 shares of the technology company’s stock valued at $569,000 after purchasing an additional 64 shares in the last quarter. Willis Investment Counsel lifted its position in shares of Jack Henry & Associates by 1.9% during the 4th quarter. Willis Investment Counsel now owns 3,650 shares of the technology company’s stock valued at $640,000 after acquiring an additional 68 shares during the period. AdvisorNet Financial Inc boosted its position in Jack Henry & Associates by 9.8% during the first quarter. AdvisorNet Financial Inc now owns 838 shares of the technology company’s stock worth $153,000 after purchasing an additional 75 shares in the last quarter. Finally, Torray Investment Partners LLC grew its stake in Jack Henry & Associates by 0.7% in the 4th quarter. Torray Investment Partners LLC now owns 10,446 shares of the technology company’s stock valued at $1,831,000 after acquiring an additional 76 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.