Jack Henry & Associates, Inc. (NASDAQ:JKHY) Receives Average Rating of “Hold” from Brokerages

Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) have received an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $186.80.

A number of analysts have weighed in on the company. StockNews.com cut Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. 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 research report on Thursday, November 7th. Keefe, Bruyette & Woods upped their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their price target on Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Finally, Stephens restated an “equal weight” rating and set a $170.00 target price on shares of Jack Henry & Associates in a report on Wednesday, November 6th.

Insider Activity

In other news, insider David B. Foss sold 18,770 shares of the company’s 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 transaction, the insider now owns 138,665 shares of the company’s stock, valued at $23,756,087.80. This represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jack Henry & Associates

Hedge funds have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC lifted its stake in Jack Henry & Associates by 647.4% in the fourth quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock valued at $25,000 after buying an additional 123 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Jack Henry & Associates in the third quarter valued at about $26,000. ORG Partners LLC acquired a new position in Jack Henry & Associates in the fourth quarter valued at about $35,000. Catalyst Capital Advisors LLC acquired a new position in Jack Henry & Associates in the third quarter valued at about $48,000. Finally, Point72 Asset Management L.P. acquired a new position in Jack Henry & Associates in the third quarter valued at about $54,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

JKHY opened at $175.15 on Wednesday. The stock has a market cap of $12.78 billion, a PE ratio of 32.08, a P/E/G ratio of 3.27 and a beta of 0.61. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates has a 1 year low of $157.00 and a 1 year high of $189.63. The stock’s 50 day simple moving average is $174.67 and its 200-day simple moving average is $174.55.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The business had revenue of $600.98 million for the quarter, compared to analysts’ expectations of $599.56 million. During the same period in the previous year, the business posted $1.39 earnings per share. Jack Henry & Associates’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Jack Henry & Associates will post 5.81 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd were paid 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 was Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 40.29%.

Jack Henry & Associates Company Profile

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.