Jack Henry & Associates (NASDAQ:JKHY) Shares Gap Down to $165.55

Jack Henry & Associates, Inc. (NASDAQ:JKHY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $165.55, but opened at $162.00. Jack Henry & Associates shares last traded at $164.68, with a volume of 125,920 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JKHY. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. DA Davidson reaffirmed a “buy” rating and issued a $198.00 price objective on shares of Jack Henry & Associates in a report on Tuesday, April 30th. Evercore ISI upped their price objective on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, William Blair restated an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Jack Henry & Associates presently has a consensus rating of “Hold” and a consensus target price of $176.10.

Jack Henry & Associates Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market capitalization of $11.94 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 3.98 and a beta of 0.63. The stock’s 50 day moving average is $165.79 and its two-hundred day moving average is $167.83.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, August 20th. The technology company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. The business had revenue of $559.91 million during the quarter, compared to analysts’ expectations of $563.37 million. Jack Henry & Associates had a return on equity of 22.18% and a net margin of 17.28%. During the same quarter in the prior year, the firm earned $1.34 earnings per share. On average, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Jack Henry & Associates

Several institutional investors and hedge funds have recently added to or reduced their stakes in JKHY. Vanguard Group Inc. lifted its stake in shares of Jack Henry & Associates by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,688,433 shares of the technology company’s stock worth $1,509,441,000 after buying an additional 39,456 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Jack Henry & Associates by 1.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company’s stock worth $657,158,000 after purchasing an additional 67,386 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Jack Henry & Associates by 1.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,942,887 shares of the technology company’s stock worth $317,487,000 after purchasing an additional 24,910 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Jack Henry & Associates by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company’s stock valued at $175,342,000 after purchasing an additional 23,617 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Jack Henry & Associates by 32.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 705,582 shares of the technology company’s stock valued at $115,299,000 after purchasing an additional 171,477 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

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.