Jack Henry & Associates (NASDAQ:JKHY) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Jack Henry & Associates (NASDAQ:JKHY – Get Rating) in a report published on Thursday. The firm issued a hold rating on the technology company’s stock.

A number of other research firms have also recently issued reports on JKHY. Robert W. Baird decreased their target price on Jack Henry & Associates from $190.00 to $175.00 and set a neutral rating on the stock in a research report on Thursday, February 9th. DA Davidson decreased their target price on Jack Henry & Associates from $198.00 to $188.00 and set a neutral rating on the stock in a research report on Thursday, February 9th. Royal Bank of Canada reiterated a sector perform rating and issued a $184.00 target price (down previously from $193.00) on shares of Jack Henry & Associates in a research report on Thursday, February 9th. Morgan Stanley decreased their target price on Jack Henry & Associates from $185.00 to $175.00 and set an equal weight rating on the stock in a research report on Thursday, February 9th. Finally, UBS Group upgraded Jack Henry & Associates from a neutral rating to a buy rating and set a $184.00 price target on the stock in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jack Henry & Associates has a consensus rating of Hold and an average price target of $180.22.

Jack Henry & Associates Price Performance

Shares of NASDAQ JKHY traded down $1.65 during mid-day trading on Thursday, reaching $146.46. The company had a trading volume of 1,672,188 shares, compared to its average volume of 720,518. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15. Jack Henry & Associates has a one year low of $139.28 and a one year high of $212.62. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 3.41 and a beta of 0.64. The business’s 50-day simple moving average is $170.02 and its 200 day simple moving average is $180.22.

Jack Henry & Associates (NASDAQ:JKHY – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The technology company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Jack Henry & Associates had a return on equity of 24.81% and a net margin of 17.66%. The company had revenue of $505.30 million during the quarter, compared to the consensus estimate of $515.47 million. During the same quarter in the previous year, the business posted $1.30 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts predict that Jack Henry & Associates will post 4.82 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Wednesday, March 8th will be paid a $0.52 dividend. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, March 7th. Jack Henry & Associates’s payout ratio is currently 43.15%.

Insider Buying and Selling

In related news, Director Laura G. Kelly acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were bought at an average cost of $145.29 per share, with a total value of $145,290.00. Following the completion of the purchase, the director now directly owns 16,194 shares in the company, valued at $2,352,826.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Jack Henry & Associates

A number of hedge funds and other institutional investors have recently made changes to their positions in JKHY. Rockefeller Capital Management L.P. lifted its stake in Jack Henry & Associates by 22.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,853 shares of the technology company’s stock valued at $324,000 after buying an additional 338 shares during the period. Voya Investment Management LLC lifted its stake in Jack Henry & Associates by 106.5% in the fourth quarter. Voya Investment Management LLC now owns 113,500 shares of the technology company’s stock valued at $19,926,000 after buying an additional 58,536 shares during the period. Natixis lifted its stake in Jack Henry & Associates by 32.7% in the fourth quarter. Natixis now owns 9,858 shares of the technology company’s stock valued at $1,731,000 after buying an additional 2,427 shares during the period. National Pension Service lifted its stake in Jack Henry & Associates by 6.3% in the fourth quarter. National Pension Service now owns 127,552 shares of the technology company’s stock valued at $22,393,000 after buying an additional 7,588 shares during the period. Finally, Truist Financial Corp lifted its stake in Jack Henry & Associates by 1.8% in the fourth quarter. Truist Financial Corp now owns 39,818 shares of the technology company’s stock valued at $6,990,000 after buying an additional 696 shares during the period. 90.26% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Company Profile

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Jack Henry & Associates, Inc is a technology company, which engages in the provision of technology solutions and payment processing services primarily for financial services organizations. 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, general ledger transactions, and maintain centralized customer or member information.