Jack Henry & Associates (NASDAQ:JKHY) Downgraded by StockNews.com

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

Other equities analysts have also recently issued reports about the company. Citigroup assumed coverage on Jack Henry & Associates in a report on Thursday, January 18th. They issued a “neutral” rating and a $177.00 target price for the company. Evercore ISI increased their target price on Jack Henry & Associates from $157.00 to $172.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Robert W. Baird increased their target price on Jack Henry & Associates from $180.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday. Wolfe Research assumed coverage on Jack Henry & Associates in a report on Thursday, March 7th. They issued a “peer perform” rating for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Jack Henry & Associates presently has an average rating of “Hold” and a consensus target price of $172.42.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY opened at $165.60 on Friday. The business has a 50 day moving average price of $171.36 and a 200 day moving average price of $162.53. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.15. Jack Henry & Associates has a twelve month low of $136.57 and a twelve month high of $178.37. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 3.86 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. The company had revenue of $545.70 million during the quarter, compared to the consensus estimate of $540.34 million. During the same quarter last year, the company earned $1.10 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts predict that Jack Henry & Associates will post 5.11 earnings per share for the current year.

Hedge Funds Weigh In On Jack Henry & Associates

Hedge funds have recently bought and sold shares of the company. Planned Solutions Inc. purchased a new position in Jack Henry & Associates during the 4th quarter worth $33,000. NBC Securities Inc. purchased a new position in shares of Jack Henry & Associates in the 3rd quarter worth about $30,000. Harbour Investments Inc. boosted its holdings in shares of Jack Henry & Associates by 62.2% in the 4th quarter. Harbour Investments Inc. now owns 206 shares of the technology company’s stock worth $34,000 after buying an additional 79 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Jack Henry & Associates during the fourth quarter valued at about $35,000. Finally, West Tower Group LLC lifted its holdings in Jack Henry & Associates by 602.8% during the fourth quarter. West Tower Group LLC now owns 253 shares of the technology company’s stock valued at $41,000 after purchasing an additional 217 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

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.