Stephens Reiterates Equal Weight Rating for Jack Henry & Associates (NASDAQ:JKHY)

Stephens restated their equal weight rating on shares of Jack Henry & Associates (NASDAQ:JKHY) in a research note published on Wednesday, Benzinga reports. Stephens currently has a $170.00 price objective on the technology company’s stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods boosted their target price on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, August 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $181.00 target price on shares of Jack Henry & Associates in a research note on Friday, September 6th. Robert W. Baird boosted their target price on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Compass Point assumed coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $185.40.

Jack Henry & Associates Stock Performance

Shares of Jack Henry & Associates stock traded down $0.67 during midday trading on Wednesday, hitting $179.73. The company had a trading volume of 25,999 shares, compared to its average volume of 442,320. The business’s 50 day simple moving average is $178.97 and its two-hundred day simple moving average is $170.44. The stock has a market cap of $13.11 billion, a PE ratio of 34.56, a P/E/G ratio of 3.38 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. Jack Henry & Associates has a 1-year low of $146.46 and a 1-year high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly 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 17.23% and a return on equity of 21.63%. The firm had revenue of $600.98 million for the quarter, compared to the consensus estimate of $599.56 million. During the same quarter in the previous year, the company earned $1.39 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts predict that Jack Henry & Associates will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is 42.15%.

Institutional Investors Weigh In On Jack Henry & Associates

Several large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in Jack Henry & Associates by 188.4% in the 2nd quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock worth $46,819,000 after purchasing an additional 184,210 shares in the last quarter. Mackenzie Financial Corp raised its stake in Jack Henry & Associates by 51.4% in the 2nd quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock worth $83,665,000 after purchasing an additional 171,041 shares in the last quarter. TD Asset Management Inc increased its holdings in Jack Henry & Associates by 25.6% in the 1st quarter. TD Asset Management Inc now owns 684,363 shares of the technology company’s stock valued at $118,894,000 after buying an additional 139,582 shares during the period. Assenagon Asset Management S.A. increased its holdings in Jack Henry & Associates by 6,680.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock valued at $19,158,000 after buying an additional 113,696 shares during the period. Finally, Tandem Investment Advisors Inc. increased its holdings in Jack Henry & Associates by 20.4% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock valued at $83,496,000 after buying an additional 85,175 shares during the period. Institutional investors own 98.75% of the company’s stock.

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.