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 issued to investors on Friday morning.

Other analysts also recently issued reports about the company. Robert W. Baird raised their target price on Jack Henry & Associates from $180.00 to $186.00 and gave the stock a neutral rating in a research report on Wednesday, April 17th. DA Davidson reissued a buy rating and set a $198.00 price objective on shares of Jack Henry & Associates in a research note on Tuesday, April 30th. Wolfe Research assumed coverage on Jack Henry & Associates in a research note on Thursday, March 7th. They set a peer perform rating for the company. Evercore ISI lifted their price objective on Jack Henry & Associates from $157.00 to $172.00 and gave the company an in-line rating in a research note on Tuesday, March 26th. Finally, William Blair reissued an outperform rating on shares of Jack Henry & Associates in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $174.42.

Jack Henry & Associates Stock Performance

NASDAQ:JKHY opened at $165.04 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.39 and a quick ratio of 1.39. The business has a fifty day simple moving average of $165.57 and a two-hundred day simple moving average of $167.70. Jack Henry & Associates has a 1 year low of $136.57 and a 1 year high of $178.37. The company has a market capitalization of $12.03 billion, a P/E ratio of 31.86, a P/E/G ratio of 4.17 and a beta of 0.62.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, May 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. Jack Henry & Associates had a return on equity of 22.18% and a net margin of 17.28%. The business had revenue of $538.56 million during the quarter, compared to the consensus estimate of $541.80 million. During the same period last year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts expect that Jack Henry & Associates will post 5.19 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, May 28th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.20 annualized dividend and a dividend yield of 1.33%. Jack Henry & Associates’s dividend payout ratio is currently 42.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JKHY. TD Asset Management Inc increased its holdings in Jack Henry & Associates by 327.7% during the 4th quarter. TD Asset Management Inc now owns 544,781 shares of the technology company’s stock valued at $89,023,000 after purchasing an additional 417,401 shares during the period. APG Asset Management US Inc. purchased a new position in shares of Jack Henry & Associates during the 4th quarter worth approximately $54,552,000. Assenagon Asset Management S.A. grew its holdings in shares of Jack Henry & Associates by 1,587.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 347,018 shares of the technology company’s stock worth $56,706,000 after acquiring an additional 326,448 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Jack Henry & Associates by 96.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 565,659 shares of the technology company’s stock worth $92,434,000 after acquiring an additional 277,945 shares during the period. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Jack Henry & Associates by 250.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 291,514 shares of the technology company’s stock worth $47,636,000 after acquiring an additional 208,322 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

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.