Jack Henry & Associates (NASDAQ:JKHY) Raised to “Buy” at Wall Street Zen

Jack Henry & Associates (NASDAQ:JKHY) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Several other research firms also recently weighed in on JKHY. The Goldman Sachs Group raised shares of Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price target for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their target price on Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating on the stock in a report on Thursday, May 8th. Finally, UBS Group cut their price target on shares of Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $185.11.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $175.19 on Friday. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 2.83 and a beta of 0.72. The stock has a fifty day simple moving average of $180.10 and a 200 day simple moving average of $176.13. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.04. Jack Henry & Associates has a twelve month low of $160.23 and a twelve month high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.23. The company had revenue of $585.09 million during the quarter, compared to analysts’ expectations of $585.84 million. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. Jack Henry & Associates’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 earnings per share. Sell-side analysts expect that Jack Henry & Associates will post 5.83 EPS for the current year.

Institutional Investors Weigh In On Jack Henry & Associates

Institutional investors have recently made changes to their positions in the stock. Tandem Investment Advisors Inc. raised its stake in shares of Jack Henry & Associates by 14.5% during the 1st quarter. Tandem Investment Advisors Inc. now owns 649,236 shares of the technology company’s stock valued at $118,550,000 after purchasing an additional 82,414 shares during the period. SG Americas Securities LLC boosted its stake in Jack Henry & Associates by 169.0% in the 1st quarter. SG Americas Securities LLC now owns 3,349 shares of the technology company’s stock worth $612,000 after purchasing an additional 2,104 shares during the period. Asset Management One Co. Ltd. grew its holdings in Jack Henry & Associates by 11.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 31,725 shares of the technology company’s stock valued at $5,793,000 after buying an additional 3,237 shares in the last quarter. Bridges Investment Management Inc. increased its position in shares of Jack Henry & Associates by 82.7% during the first quarter. Bridges Investment Management Inc. now owns 6,720 shares of the technology company’s stock valued at $1,227,000 after buying an additional 3,041 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its holdings in shares of Jack Henry & Associates by 22.7% in the first quarter. OneDigital Investment Advisors LLC now owns 2,481 shares of the technology company’s stock worth $453,000 after buying an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

About Jack Henry & Associates

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.