Jack Henry & Associates (NASDAQ:JKHY) Reaches New 52-Week High – Here’s Why

Jack Henry & Associates, Inc. (NASDAQ:JKHY) reached a new 52-week high during trading on Tuesday . The company traded as high as $185.02 and last traded at $184.04, with a volume of 13828 shares trading hands. The stock had previously closed at $184.29.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $181.00 target price on shares of Jack Henry & Associates in a research note on Friday, September 6th. Keefe, Bruyette & Woods upped their price objective on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, August 22nd. Evercore ISI lifted their target price on Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Compass Point began coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target for the company. Finally, Oppenheimer assumed coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $184.00.

Jack Henry & Associates Price Performance

The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 3.35 and a beta of 0.64. The company’s 50 day moving average is $172.97 and its 200 day moving average is $168.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. The company had revenue of $559.91 million during the quarter, compared to the consensus estimate of $563.37 million. During the same period last year, the firm earned $1.34 EPS. Research analysts forecast that Jack Henry & Associates, Inc. will post 5.82 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, September 6th. Jack Henry & Associates’s payout ratio is 42.47%.

Institutional Investors Weigh In On Jack Henry & Associates

A number of hedge funds and other institutional investors have recently modified their holdings of JKHY. Raymond James Trust N.A. boosted its position in Jack Henry & Associates by 1.3% during the second quarter. Raymond James Trust N.A. now owns 4,804 shares of the technology company’s stock worth $798,000 after acquiring an additional 60 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of Jack Henry & Associates by 0.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 7,558 shares of the technology company’s stock worth $1,313,000 after purchasing an additional 62 shares during the last quarter. Czech National Bank grew its position in shares of Jack Henry & Associates by 0.5% in the first quarter. Czech National Bank now owns 12,821 shares of the technology company’s stock valued at $2,227,000 after purchasing an additional 65 shares during the period. Advisor OS LLC increased its stake in Jack Henry & Associates by 1.0% in the second quarter. Advisor OS LLC now owns 6,624 shares of the technology company’s stock valued at $1,100,000 after purchasing an additional 65 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Jack Henry & Associates by 0.6% during the third quarter. UMB Bank n.a. now owns 10,870 shares of the technology company’s stock worth $1,919,000 after buying an additional 66 shares during the period. 98.75% of the stock is currently owned by hedge funds and other 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.