Jack Henry & Associates, Inc. (NASDAQ:JKHY) Given Consensus Recommendation of “Hold” by Brokerages

Jack Henry & Associates, Inc. (NASDAQ:JKHY) has been assigned an average rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $185.11.

A number of equities analysts have recently commented on JKHY shares. UBS Group lowered their price objective on Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. The Goldman Sachs Group raised Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 target price on the stock in a report on Wednesday, April 2nd. Wall Street Zen raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Sunday. Finally, 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.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $175.02 on Wednesday. Jack Henry & Associates has a 1-year low of $160.23 and a 1-year high of $196.00. The stock has a 50-day moving average of $180.24 and a two-hundred day moving average of $176.11. The company has a market cap of $12.74 billion, a P/E ratio of 29.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results 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. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The firm had revenue of $585.09 million for the quarter, compared to the consensus estimate of $585.84 million. During the same period in the prior year, the firm earned $1.19 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Jack Henry & Associates will post 5.83 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were given a dividend of $0.58 per share. The ex-dividend date was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.33%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 39.52%.

Hedge Funds Weigh In On Jack Henry & Associates

A number of hedge funds have recently modified their holdings of JKHY. Tandem Investment Advisors Inc. raised its holdings in shares of Jack Henry & Associates by 14.5% in the first quarter. Tandem Investment Advisors Inc. now owns 649,236 shares of the technology company’s stock valued at $118,550,000 after buying an additional 82,414 shares during the last quarter. Bridges Investment Management Inc. boosted its position in shares of Jack Henry & Associates by 82.7% during the 1st quarter. Bridges Investment Management Inc. now owns 6,720 shares of the technology company’s stock worth $1,227,000 after purchasing an additional 3,041 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Jack Henry & Associates by 928.9% during the 1st quarter. Penserra Capital Management LLC now owns 5,340 shares of the technology company’s stock worth $974,000 after purchasing an additional 4,821 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Jack Henry & Associates by 169.0% during 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 in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Jack Henry & Associates by 11.4% during the first quarter. Asset Management One Co. Ltd. now owns 31,725 shares of the technology company’s stock worth $5,793,000 after buying an additional 3,237 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

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.