Jack Henry & Associates (NASDAQ:JKHY) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Jack Henry & Associates (NASDAQ:JKHY) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other analysts have also weighed in on JKHY. William Blair lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods increased their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. UBS Group increased their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Stephens reiterated an “equal weight” rating and issued a $170.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Finally, Compass Point began coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Jack Henry & Associates has a consensus rating of “Hold” and a consensus target price of $188.73.

Jack Henry & Associates Stock Up 0.5 %

JKHY stock opened at $173.96 on Tuesday. The company’s 50 day moving average price is $179.02 and its 200 day moving average price is $171.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.11 and a current ratio of 1.11. Jack Henry & Associates has a fifty-two week low of $153.23 and a fifty-two week high of $189.63. The firm has a market capitalization of $12.69 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 3.25 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. 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 prior year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Jack Henry & Associates will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio is presently 40.29%.

Insider Buying and Selling

In related news, insider David B. Foss sold 18,770 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the sale, the insider now directly owns 138,665 shares of the company’s stock, valued at $23,756,087.80. This trade represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Jack Henry & Associates

Several hedge funds have recently modified their holdings of JKHY. State Street Corp lifted its holdings in Jack Henry & Associates by 1.7% in the third quarter. State Street Corp now owns 3,976,658 shares of the technology company’s stock valued at $702,039,000 after acquiring an additional 67,716 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Jack Henry & Associates by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company’s stock valued at $657,158,000 after acquiring an additional 67,386 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Jack Henry & Associates by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company’s stock valued at $175,342,000 after acquiring an additional 23,617 shares during the period. Handelsbanken Fonder AB lifted its holdings in Jack Henry & Associates by 8.4% in the third quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company’s stock valued at $152,495,000 after acquiring an additional 66,600 shares during the period. Finally, Raymond James & Associates lifted its holdings in Jack Henry & Associates by 3.2% in the third quarter. Raymond James & Associates now owns 631,974 shares of the technology company’s stock valued at $111,569,000 after acquiring an additional 19,846 shares during the period. 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.