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

Jack Henry & Associates (NASDAQ:JKHY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other analysts have also weighed in on the stock. UBS Group increased their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday. Compass Point assumed coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. Oppenheimer assumed coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Robert W. Baird raised their price target on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $188.73.

Jack Henry & Associates Stock Performance

Shares of NASDAQ JKHY traded down $0.43 during midday trading on Thursday, reaching $179.97. The company had a trading volume of 720,728 shares, compared to its average volume of 445,537. The business’s 50-day simple moving average is $179.13 and its 200 day simple moving average is $170.51. The stock has a market cap of $13.12 billion, a P/E ratio of 34.48, a P/E/G ratio of 3.38 and a beta of 0.63. Jack Henry & Associates has a 1 year low of $146.46 and a 1 year high of $189.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The business had revenue of $600.98 million during the quarter, compared to analysts’ expectations of $599.56 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $1.39 earnings per share. On average, analysts forecast that Jack Henry & Associates will post 5.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jack Henry & Associates

Several hedge funds and other institutional investors have recently modified their holdings of JKHY. Strategic Financial Concepts LLC purchased a new position in shares of Jack Henry & Associates in the second quarter worth about $25,000. Tortoise Investment Management LLC raised its stake in Jack Henry & Associates by 76.3% during the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after purchasing an additional 71 shares during the period. New Covenant Trust Company N.A. purchased a new position in Jack Henry & Associates during the first quarter worth about $30,000. Blue Trust Inc. raised its stake in Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Jack Henry & Associates during the third quarter worth about $48,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Company Profile

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.