Jack Henry & Associates, Inc. (NASDAQ:JKHY) Increases Dividend to $0.58 Per Share

Jack Henry & Associates, Inc. (NASDAQ:JKHY) declared a quarterly dividend on Monday, February 10th,RTT News reports. Stockholders of record on Thursday, March 6th will be paid a dividend of 0.58 per share by the technology company on Tuesday, March 25th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55.

Jack Henry & Associates has increased its dividend payment by an average of 6.1% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Jack Henry & Associates has a payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Jack Henry & Associates to earn $6.26 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 35.1%.

Jack Henry & Associates Stock Down 0.1 %

Shares of Jack Henry & Associates stock opened at $173.66 on Tuesday. Jack Henry & Associates has a 52-week low of $157.00 and a 52-week high of $189.63. The company has a 50 day moving average of $174.77 and a 200 day moving average of $174.87. The company has a quick ratio of 1.11, a current ratio of 3.11 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $12.67 billion, a P/E ratio of 31.35, a P/E/G ratio of 3.46 and a beta of 0.61.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. As a group, research analysts forecast that Jack Henry & Associates will post 5.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group upped their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. William Blair cut Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com downgraded Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Robert W. Baird boosted their price objective on Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $186.80.

Insider Buying and Selling at Jack Henry & Associates

In related news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.37% of the stock is owned by corporate insiders.

About Jack Henry & Associates

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