Jack Henry & Associates (NASDAQ:JKHY) Price Target Raised to $203.00

Jack Henry & Associates (NASDAQ:JKHY) had its price target hoisted by Royal Bank of Canada from $181.00 to $203.00 in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. UBS Group lifted their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Robert W. Baird increased 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. Keefe, Bruyette & Woods boosted their target price 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. Finally, Stephens reaffirmed an “equal weight” rating and set a $170.00 price target on shares of Jack Henry & Associates in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Jack Henry & Associates currently has a consensus rating of “Hold” and a consensus price target of $188.73.

Jack Henry & Associates Price Performance

Shares of JKHY traded down $0.20 during trading hours on Thursday, reaching $179.77. The company had a trading volume of 560,993 shares, compared to its average volume of 482,056. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.31 and a beta of 0.63. Jack Henry & Associates has a 12-month low of $146.46 and a 12-month high of $189.63. The firm has a 50 day simple moving average of $179.26 and a 200-day simple moving average of $170.64. The company has a current ratio of 0.51, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $599.56 million. During the same quarter in the previous year, the company earned $1.39 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts expect that Jack Henry & Associates will post 5.82 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is currently 40.29%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of JKHY. Strategic Financial Concepts LLC purchased a new position in Jack Henry & Associates in the second quarter valued at about $25,000. Tortoise Investment Management LLC raised its holdings in shares of Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after buying an additional 71 shares during the period. New Covenant Trust Company N.A. acquired a new position in Jack Henry & Associates during the 1st quarter worth approximately $30,000. Blue Trust Inc. grew its position in Jack Henry & Associates by 148.9% in the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock valued at $39,000 after acquiring an additional 134 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Jack Henry & Associates during the third quarter valued at approximately $48,000. Hedge funds and other 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.