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

Jack Henry & Associates (NASDAQ:JKHY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other analysts have also recently issued reports on the stock. Compass Point initiated coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 target price on the stock. UBS Group upped their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday. Stephens reiterated an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a report on Wednesday. Robert W. Baird upped their price target on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a report on Thursday. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $188.73.

Jack Henry & Associates Price Performance

JKHY stock traded down $0.43 during mid-day trading on Thursday, hitting $179.97. The company had a trading volume of 720,728 shares, compared to its average volume of 445,537. The company has a 50-day moving average price of $179.13 and a 200 day moving average price of $170.51. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 34.48, a P/E/G 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.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. The firm had revenue of $600.98 million for the quarter, compared to analysts’ expectations of $599.56 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 EPS. On average, research analysts anticipate that Jack Henry & Associates will post 5.82 earnings per share for the current year.

Hedge Funds Weigh In On Jack Henry & Associates

A number of hedge funds and other institutional investors have recently modified their holdings of JKHY. Principal Financial Group Inc. boosted its stake in shares of Jack Henry & Associates by 188.4% during 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 stake in shares of Jack Henry & Associates by 51.4% during the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after purchasing an additional 171,041 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Jack Henry & Associates by 25.6% during the first quarter. TD Asset Management Inc now owns 684,363 shares of the technology company’s stock valued at $118,894,000 after purchasing an additional 139,582 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Jack Henry & Associates by 6,680.1% during the second quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock valued at $19,158,000 after purchasing an additional 113,696 shares in the last quarter. Finally, Tandem Investment Advisors Inc. boosted its stake in shares of Jack Henry & Associates by 20.4% during the second quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock valued at $83,496,000 after purchasing an additional 85,175 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

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.