Jack Henry & Associates’ (JKHY) Equal Weight Rating Reaffirmed at Stephens

Stephens restated their equal weight rating on shares of Jack Henry & Associates (NASDAQ:JKHY) in a report issued on Wednesday, Benzinga reports. They currently have a $170.00 target price on the technology company’s stock.

A number of other equities research analysts also recently weighed in on the company. Compass Point started coverage on Jack Henry & Associates in a report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price target for the company. Oppenheimer started coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $181.00 price target on shares of Jack Henry & Associates in a report on Friday, September 6th. Keefe, Bruyette & Woods upped their price objective on Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a research note on Thursday, August 22nd. Finally, StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $185.40.

Jack Henry & Associates Stock Down 0.4 %

Jack Henry & Associates stock traded down $0.67 during midday trading on Wednesday, hitting $179.73. 25,999 shares of the company were exchanged, compared to its average volume of 442,320. The company’s fifty day moving average price is $178.97 and its 200-day moving average price is $170.44. The company has a market cap of $13.11 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 3.38 and a beta of 0.63. 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 has a fifty-two week low of $146.46 and a fifty-two week high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The firm had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same period in the previous year, the company posted $1.39 EPS. Jack Henry & Associates’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts predict that Jack Henry & Associates will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, September 6th. Jack Henry & Associates’s payout ratio is 42.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its position in shares of Jack Henry & Associates by 14.1% in the third quarter. Thrivent Financial for Lutherans now owns 95,093 shares of the technology company’s stock worth $16,787,000 after purchasing an additional 11,728 shares in the last quarter. Empowered Funds LLC raised its position in Jack Henry & Associates by 2.0% during the third quarter. Empowered Funds LLC now owns 4,845 shares of the technology company’s stock valued at $855,000 after acquiring an additional 97 shares in the last quarter. CIBC Asset Management Inc raised its position in Jack Henry & Associates by 2.8% during the third quarter. CIBC Asset Management Inc now owns 10,655 shares of the technology company’s stock valued at $1,881,000 after acquiring an additional 295 shares in the last quarter. Zions Bancorporation N.A. raised its position in Jack Henry & Associates by 17.1% during the third quarter. Zions Bancorporation N.A. now owns 8,668 shares of the technology company’s stock valued at $1,530,000 after acquiring an additional 1,265 shares in the last quarter. Finally, Huntington National Bank raised its position in Jack Henry & Associates by 20.9% during the third quarter. Huntington National Bank now owns 451 shares of the technology company’s stock valued at $80,000 after acquiring an additional 78 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.