Jack Henry & Associates, Inc. (NASDAQ:JKHY) Short Interest Down 8.3% in October

Jack Henry & Associates, Inc. (NASDAQ:JKHY) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,660,000 shares, a drop of 8.3% from the October 15th total of 1,810,000 shares. Based on an average daily volume of 501,500 shares, the short-interest ratio is presently 3.3 days. Approximately 2.3% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. William Blair downgraded Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer assumed coverage on Jack Henry & Associates in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price target for the company. Compass Point began coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price target for the company. Finally, StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Friday. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $188.73.

Institutional Investors Weigh In On Jack Henry & Associates

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JKHY. Strategic Financial Concepts LLC bought a new stake in Jack Henry & Associates during the second quarter worth approximately $25,000. Tortoise Investment Management LLC raised its holdings in Jack Henry & Associates by 76.3% during the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after purchasing an additional 71 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in Jack Henry & Associates during the first quarter worth approximately $30,000. Blue Trust Inc. raised its holdings in Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Jack Henry & Associates during the third quarter worth approximately $48,000. Institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

JKHY opened at $172.06 on Tuesday. The business’s 50 day moving average is $179.46 and its 200-day moving average is $171.05. The stock has a market cap of $12.55 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 3.26 and a beta of 0.63. The company has a current ratio of 1.11, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. Jack Henry & Associates has a twelve month low of $151.59 and a twelve month high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The company had revenue of $600.98 million for the quarter, compared to analysts’ expectations of $599.56 million. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, analysts predict that Jack Henry & Associates will post 5.8 earnings per share 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.28%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 40.29%.

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.