Jack Henry & Associates (NASDAQ:JKHY) Lowered to “Hold” at StockNews.com

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

A number of other equities research analysts also recently issued reports on JKHY. Evercore ISI upped their price target on shares of Jack Henry & Associates from $157.00 to $172.00 and gave the company an in-line rating in a research note on Tuesday, March 26th. Citigroup initiated coverage on shares of Jack Henry & Associates in a research note on Thursday, January 18th. They set a neutral rating and a $177.00 price target on the stock. Robert W. Baird upped their price target on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. William Blair reaffirmed an outperform rating on shares of Jack Henry & Associates in a research note on Wednesday, February 7th. Finally, TheStreet raised shares of Jack Henry & Associates from a c+ rating to a b- rating in a research note on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $172.42.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY opened at $166.48 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a fifty day moving average price of $171.02 and a 200 day moving average price of $162.98. Jack Henry & Associates has a fifty-two week low of $136.57 and a fifty-two week high of $178.37. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 32.58, a P/E/G ratio of 3.88 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Wednesday, February 7th. The technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The firm had revenue of $545.70 million during the quarter, compared to analyst estimates of $540.34 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. Jack Henry & Associates’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Jack Henry & Associates will post 5.11 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.32%. Jack Henry & Associates’s dividend payout ratio is presently 43.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Silver Lake Advisory LLC grew its holdings in shares of Jack Henry & Associates by 7.1% in the first quarter. Silver Lake Advisory LLC now owns 31,898 shares of the technology company’s stock worth $5,542,000 after purchasing an additional 2,109 shares during the last quarter. Wesbanco Bank Inc. bought a new position in shares of Jack Henry & Associates in the first quarter worth about $291,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Jack Henry & Associates by 2.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 38,230 shares of the technology company’s stock worth $6,642,000 after purchasing an additional 734 shares during the last quarter. Outlook Wealth Advisors LLC bought a new position in shares of Jack Henry & Associates in the first quarter worth about $264,000. Finally, Raymond James & Associates grew its holdings in shares of Jack Henry & Associates by 5.3% in the first quarter. Raymond James & Associates now owns 585,700 shares of the technology company’s stock worth $101,754,000 after purchasing an additional 29,538 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Jack Henry & Associates Company Profile

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.