Jack Henry & Associates, Inc. (NASDAQ:JKHY) Receives Average Rating of “Hold” from Brokerages

Jack Henry & Associates, Inc. (NASDAQ:JKHY) has been given a consensus rating of “Hold” by the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $185.30.

A number of equities research analysts have recently weighed in on the company. Northcoast Research lowered Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. The Goldman Sachs Group raised Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price objective for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company assumed coverage on shares of Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 target price on the stock. Finally, William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th.

Jack Henry & Associates Stock Down 0.1 %

Shares of JKHY opened at $172.12 on Friday. Jack Henry & Associates has a 1 year low of $157.00 and a 1 year high of $196.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a 50 day simple moving average of $175.12 and a two-hundred day simple moving average of $175.18. The firm has a market cap of $12.55 billion, a P/E ratio of 31.07, a P/E/G ratio of 3.36 and a beta of 0.75.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.16. The company had revenue of $585.09 million during the quarter, compared to analysts’ expectations of $585.84 million. Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 EPS. On average, analysts forecast that Jack Henry & Associates will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were given a dividend of $0.58 per share. The ex-dividend date was Thursday, March 6th. This represents a $2.32 annualized dividend and a yield of 1.35%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 41.88%.

Hedge Funds Weigh In On Jack Henry & Associates

Several large investors have recently made changes to their positions in JKHY. Assetmark Inc. grew its stake in shares of Jack Henry & Associates by 147.5% in the 1st quarter. Assetmark Inc. now owns 250 shares of the technology company’s stock worth $46,000 after buying an additional 149 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Jack Henry & Associates by 6.8% in the first quarter. Cetera Investment Advisers now owns 20,885 shares of the technology company’s stock worth $3,814,000 after acquiring an additional 1,333 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Jack Henry & Associates by 4.6% in the first quarter. Avantax Advisory Services Inc. now owns 5,169 shares of the technology company’s stock worth $944,000 after acquiring an additional 228 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Jack Henry & Associates by 17.7% during the first quarter. Venturi Wealth Management LLC now owns 2,457 shares of the technology company’s stock valued at $449,000 after acquiring an additional 369 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Jack Henry & Associates by 2.1% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,115 shares of the technology company’s stock valued at $569,000 after acquiring an additional 64 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.