Jack Henry & Associates’ (JKHY) Buy Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Jack Henry & Associates (NASDAQ:JKHY) in a report released on Monday,Benzinga reports. They currently have a $212.00 price target on the technology company’s stock.

A number of other brokerages have also recently commented on JKHY. UBS Group reduced their price objective on Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Wall Street Zen upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods reduced their price objective on Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Jack Henry & Associates has an average rating of “Hold” and a consensus price target of $187.80.

Jack Henry & Associates Trading Up 0.3%

Shares of JKHY opened at $160.83 on Monday. The stock’s 50-day moving average is $175.01 and its two-hundred day moving average is $175.55. The stock has a market cap of $11.71 billion, a PE ratio of 27.40, a P/E/G ratio of 2.90 and a beta of 0.73. Jack Henry & Associates has a 12 month low of $157.80 and a 12 month high of $196.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36.

Insider Buying and Selling

In other Jack Henry & Associates news, Director David B. Foss sold 5,780 shares of Jack Henry & Associates stock in a transaction on Monday, August 4th. The shares were sold at an average price of $167.28, for a total value of $966,878.40. Following the completion of the transaction, the director owned 139,265 shares of the company’s stock, valued at $23,296,249.20. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jack Henry & Associates

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Jack Henry & Associates by 0.5% during the second quarter. Vanguard Group Inc. now owns 8,843,282 shares of the technology company’s stock valued at $1,593,294,000 after purchasing an additional 43,974 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Jack Henry & Associates by 19.1% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,778,922 shares of the technology company’s stock valued at $872,631,000 after purchasing an additional 765,441 shares during the last quarter. State Street Corp grew its holdings in shares of Jack Henry & Associates by 2.6% during the second quarter. State Street Corp now owns 4,006,150 shares of the technology company’s stock valued at $721,788,000 after purchasing an additional 102,534 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Jack Henry & Associates by 3.0% during the second quarter. Geode Capital Management LLC now owns 2,095,237 shares of the technology company’s stock valued at $376,816,000 after purchasing an additional 61,292 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Jack Henry & Associates by 22.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,668,602 shares of the technology company’s stock valued at $300,632,000 after purchasing an additional 301,600 shares during the last quarter. Institutional investors and hedge funds 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.