Jack Henry & Associates (NASDAQ:JKHY) Cut to “Hold” at StockNews.com

by · The Markets Daily

StockNews.com lowered shares of Jack Henry & Associates (NASDAQ:JKHY – Free Report) from a buy rating to a hold rating in a research note issued to investors on Thursday.

A number of other research firms have also commented on JKHY. Stephens reissued an “equal weight” rating and issued a $170.00 target price on shares of Jack Henry & Associates in a report on Wednesday. Oppenheimer initiated coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 target price for the company. UBS Group lifted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada lifted their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Compass Point initiated coverage on Jack Henry & Associates in a report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $188.73.

Read Our Latest Analysis on JKHY

Jack Henry & Associates Stock Up 0.6 %

Shares of JKHY traded up $1.05 on Thursday, reaching $181.02. The stock had a trading volume of 245,300 shares, compared to its average volume of 444,614. The company has a 50-day simple moving average of $179.13 and a 200-day simple moving average of $170.51. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 3.38 and a beta of 0.63. Jack Henry & Associates has a 12-month low of $146.46 and a 12-month high of $189.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00.

Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) 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. The business had revenue of $600.98 million during the quarter, compared to analysts’ expectations of $599.56 million. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 earnings per share. Sell-side analysts predict that Jack Henry & Associates will post 5.82 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a dividend of $0.55 per share. The ex-dividend date was Friday, September 6th. This represents a $2.20 annualized dividend and a yield of 1.22%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 42.15%.

Hedge Funds Weigh In On Jack Henry & Associates

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Financial Concepts LLC purchased a new position in Jack Henry & Associates during the second quarter valued at $25,000. Tortoise Investment Management LLC lifted its position in shares of Jack Henry & Associates by 76.3% in the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after buying an additional 71 shares in the last quarter. New Covenant Trust Company N.A. purchased a new stake in shares of Jack Henry & Associates in the first quarter worth about $30,000. Blue Trust Inc. lifted its position in shares of Jack Henry & Associates by 148.9% in the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after buying an additional 134 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Jack Henry & Associates in the third quarter worth about $48,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

About Jack Henry & Associates

(Get Free Report)

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.

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