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

StockNews.com upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a hold rating to a buy rating in a report published on Friday morning.

Several other brokerages have also recently issued reports on JKHY. UBS Group boosted their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird upped their price target on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Compass Point began 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 for the company. Finally, Stephens reaffirmed an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $188.73.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $173.21 on Friday. The business’s 50-day moving average price is $179.46 and its 200 day moving average price is $170.99. The company has a current ratio of 1.11, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. Jack Henry & Associates has a twelve month low of $151.05 and a twelve month high of $189.63. The company has a market capitalization of $12.64 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 3.26 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The business had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same period in the prior year, the firm posted $1.39 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that Jack Henry & Associates will post 5.8 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 annualized dividend and a dividend yield of 1.27%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 40.29%.

Institutional Investors Weigh In On Jack Henry & Associates

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new stake in shares of Jack Henry & Associates during the second quarter valued at about $25,000. Tortoise Investment Management LLC boosted its holdings in Jack Henry & Associates by 76.3% in the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after purchasing an additional 71 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in Jack Henry & Associates during the 1st quarter valued at approximately $30,000. Blue Trust Inc. increased its holdings in Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Jack Henry & Associates in the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors 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.