Jack Henry & Associates (NASDAQ:JKHY) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Jack Henry & Associates (NASDAQ:JKHY – Get Rating) in a research report sent to investors on Thursday. The brokerage issued a hold rating on the technology company’s stock.

Several other research analysts also recently issued reports on the stock. Royal Bank of Canada reiterated a sector perform rating and set a $184.00 price target (down previously from $193.00) on shares of Jack Henry & Associates in a research report on Thursday, February 9th. Morgan Stanley reduced their price target on shares of Jack Henry & Associates from $185.00 to $175.00 and set an equal weight rating on the stock in a research report on Thursday, February 9th. William Blair started coverage on shares of Jack Henry & Associates in a research report on Wednesday, January 11th. They set an outperform rating on the stock. Stephens restated an equal weight rating and set a $185.00 target price on shares of Jack Henry & Associates in a research report on Wednesday, February 8th. Finally, UBS Group upgraded shares of Jack Henry & Associates from a neutral rating to a buy rating and set a $184.00 target price on the stock in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $180.22.

Jack Henry & Associates Price Performance

Shares of JKHY traded down $1.65 during trading hours on Thursday, hitting $146.46. The stock had a trading volume of 1,672,188 shares, compared to its average volume of 720,518. The company’s fifty day moving average is $170.02 and its two-hundred day moving average is $180.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.15 and a quick ratio of 1.15. Jack Henry & Associates has a 52 week low of $139.28 and a 52 week high of $212.62. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 3.41 and a beta of 0.64.

Jack Henry & Associates (NASDAQ:JKHY – Get Rating) last posted its earnings results on Wednesday, February 8th. The technology company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). The firm had revenue of $505.30 million during the quarter, compared to the consensus estimate of $515.47 million. Jack Henry & Associates had a return on equity of 24.81% and a net margin of 17.66%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. On average, analysts anticipate that Jack Henry & Associates will post 4.82 EPS for the current year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Wednesday, March 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.49. The ex-dividend date is Tuesday, March 7th. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 43.15%.

Insider Activity at Jack Henry & Associates

In other news, Director Laura G. Kelly purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were acquired at an average cost of $145.29 per share, for a total transaction of $145,290.00. Following the transaction, the director now directly owns 16,194 shares of the company’s stock, valued at approximately $2,352,826.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Jack Henry & Associates

A number of hedge funds have recently modified their holdings of JKHY. Rockefeller Capital Management L.P. increased its stake in Jack Henry & Associates by 22.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,853 shares of the technology company’s stock worth $324,000 after purchasing an additional 338 shares in the last quarter. Voya Investment Management LLC increased its stake in Jack Henry & Associates by 106.5% during the 4th quarter. Voya Investment Management LLC now owns 113,500 shares of the technology company’s stock worth $19,926,000 after purchasing an additional 58,536 shares in the last quarter. Natixis increased its stake in Jack Henry & Associates by 32.7% during the 4th quarter. Natixis now owns 9,858 shares of the technology company’s stock worth $1,731,000 after purchasing an additional 2,427 shares in the last quarter. National Pension Service increased its stake in Jack Henry & Associates by 6.3% during the 4th quarter. National Pension Service now owns 127,552 shares of the technology company’s stock worth $22,393,000 after purchasing an additional 7,588 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Jack Henry & Associates by 1.8% during the 4th quarter. Truist Financial Corp now owns 39,818 shares of the technology company’s stock worth $6,990,000 after purchasing an additional 696 shares in the last quarter. 90.26% of the stock is currently owned by institutional investors and hedge funds.

About Jack Henry & Associates

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Jack Henry & Associates, Inc is a technology company, which engages in the provision of technology solutions and payment processing services primarily for financial services organizations. 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, general ledger transactions, and maintain centralized customer or member information.