Jack Henry & Associates (NASDAQ:JKHY) Stock Rating Upgraded by StockNews.com

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

A number of other research analysts have also recently commented on the company. Royal Bank of Canada upped their price objective on Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Robert W. Baird upped their price target on Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Stephens reissued an “equal weight” rating and set a $170.00 price objective on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. UBS Group increased their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, William Blair downgraded shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Jack Henry & Associates currently has a consensus rating of “Hold” and an average target price of $188.73.

Jack Henry & Associates Price Performance

JKHY stock traded up $0.76 during mid-day trading on Friday, reaching $173.21. The company’s stock had a trading volume of 1,734,081 shares, compared to its average volume of 454,831. The company has a current ratio of 1.11, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $179.39 and its two-hundred day moving average is $170.88. Jack Henry & Associates has a fifty-two week low of $151.05 and a fifty-two week high of $189.63. The stock has a market cap of $12.64 billion, a PE ratio of 31.72, a P/E/G ratio of 3.29 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data 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 net margin of 17.79% and a return on equity of 21.81%. The firm had revenue of $600.98 million during the quarter, compared to analyst estimates of $599.56 million. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Jack Henry & Associates’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Jack Henry & Associates will post 5.8 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio is presently 40.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in Jack Henry & Associates by 188.4% in the second quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock valued at $46,819,000 after purchasing an additional 184,210 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Jack Henry & Associates by 51.4% in the 2nd quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after buying an additional 171,041 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Jack Henry & Associates by 2,032.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock valued at $22,540,000 after buying an additional 121,667 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Jack Henry & Associates by 6,680.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after acquiring an additional 113,696 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its stake in Jack Henry & Associates by 20.4% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock worth $83,496,000 after acquiring an additional 85,175 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

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.