Jack Henry & Associates (NASDAQ:JKHY) Rating Reiterated by DA Davidson

DA Davidson restated their buy rating on shares of Jack Henry & Associates (NASDAQ:JKHY) in a report released on Tuesday morning, Benzinga reports. They currently have a $198.00 target price on the technology company’s stock.

Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Jack Henry & Associates from $161.00 to $181.00 and gave the stock a sector perform rating in a report on Thursday, February 8th. Evercore ISI upped their price objective on shares of Jack Henry & Associates from $157.00 to $172.00 and gave the company an in-line rating in a research note on Tuesday, March 26th. William Blair reissued an outperform rating on shares of Jack Henry & Associates in a research note on Wednesday, February 7th. StockNews.com lowered Jack Henry & Associates from a buy rating to a hold rating in a research report on Saturday, April 20th. Finally, Citigroup assumed coverage on Jack Henry & Associates in a report on Thursday, January 18th. They issued a neutral rating and a $177.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $174.42.

Jack Henry & Associates Stock Performance

Jack Henry & Associates stock opened at $164.18 on Tuesday. The firm has a fifty day simple moving average of $169.52 and a two-hundred day simple moving average of $163.72. 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 capitalization of $11.96 billion, a PE ratio of 32.13, a P/E/G ratio of 3.80 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Wednesday, February 7th. The technology company reported $1.26 earnings per share for the quarter, beating 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 analyst estimates of $540.34 million. During the same quarter in the previous year, the company posted $1.10 EPS. Jack Henry & Associates’s revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts expect that Jack Henry & Associates will post 5.12 EPS for the current year.

Jack Henry & Associates Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. Jack Henry & Associates’s payout ratio is 43.05%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JKHY. Vanguard Group Inc. grew its holdings in Jack Henry & Associates by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 8,648,977 shares of the technology company’s stock worth $1,413,329,000 after purchasing an additional 29,182 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Jack Henry & Associates by 1.3% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,742,546 shares of the technology company’s stock worth $565,648,000 after buying an additional 46,534 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Jack Henry & Associates by 1.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,942,887 shares of the technology company’s stock valued at $317,487,000 after buying an additional 24,910 shares in the last quarter. Invesco Ltd. increased its position in Jack Henry & Associates by 15.3% during the 3rd quarter. Invesco Ltd. now owns 1,106,851 shares of the technology company’s stock valued at $167,289,000 after buying an additional 147,143 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Jack Henry & Associates by 21.1% during the third quarter. Envestnet Asset Management Inc. now owns 1,043,098 shares of the technology company’s stock valued at $157,654,000 after buying an additional 181,811 shares during the last quarter. 98.75% of the stock is currently owned by 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.