Jack Henry & Associates’ (JKHY) Buy Rating Reaffirmed at DA Davidson

Jack Henry & Associates (NASDAQ:JKHY)‘s stock had its “buy” rating reissued by stock analysts at DA Davidson in a report issued on Tuesday, Benzinga reports. They presently have a $198.00 price target on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 21.17% from the stock’s previous close.

Several other research firms have also recently issued reports on JKHY. Evercore ISI boosted their target price on Jack Henry & Associates from $157.00 to $172.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. Citigroup began coverage on shares of Jack Henry & Associates in a report on Thursday, January 18th. They issued a “neutral” rating and a $177.00 price target for the company. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a report on Wednesday, February 7th. StockNews.com cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Finally, Royal Bank of Canada boosted their price target on Jack Henry & Associates from $161.00 to $181.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $174.42.

Jack Henry & Associates Stock Performance

Shares of JKHY stock traded down $2.71 during mid-day trading on Tuesday, hitting $163.41. 119,867 shares of the stock were exchanged, compared to its average volume of 420,193. The stock’s fifty day simple moving average is $170.38 and its two-hundred day simple moving average is $163.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37. Jack Henry & Associates has a 12-month low of $136.57 and a 12-month high of $178.37. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 3.87 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $545.70 million for the quarter, compared to the consensus estimate of $540.34 million. During the same period last year, the firm posted $1.10 EPS. Jack Henry & Associates’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts forecast that Jack Henry & Associates will post 5.11 EPS for the current year.

Institutional Investors Weigh In On Jack Henry & Associates

Several hedge funds have recently modified their holdings of JKHY. NBC Securities Inc. acquired a new position in Jack Henry & Associates in the third quarter valued at $30,000. Planned Solutions Inc. acquired a new position in shares of Jack Henry & Associates in the 4th quarter valued at $33,000. Anchor Investment Management LLC purchased a new stake in shares of Jack Henry & Associates during the 4th quarter valued at $35,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Jack Henry & Associates during the 4th quarter worth $44,000. Finally, Riverview Trust Co purchased a new position in shares of Jack Henry & Associates in the 1st quarter worth $51,000. 98.75% of the stock is 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.