StockNews.com Upgrades Jack Henry & Associates (NASDAQ:JKHY) to Buy

Jack Henry & Associates (NASDAQ:JKHY) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

JKHY has been the topic of a number of other reports. Royal Bank of Canada upped their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Compass Point initiated coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. UBS Group upped their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods increased their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, William Blair cut shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $188.73.

Jack Henry & Associates Stock Up 0.4 %

Shares of Jack Henry & Associates stock opened at $173.21 on Friday. The company has a market cap of $12.64 billion, a P/E ratio of 31.72, a PEG ratio of 3.29 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.11. Jack Henry & Associates has a one year low of $151.05 and a one year high of $189.63. The firm has a fifty day moving average of $179.46 and a two-hundred day moving average of $170.93.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The company had revenue of $600.98 million during the quarter, compared to the consensus estimate of $599.56 million. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. Jack Henry & Associates’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. On average, analysts forecast that Jack Henry & Associates will post 5.8 earnings per share for the current year.

Institutional Investors Weigh In On Jack Henry & Associates

Several hedge funds have recently modified their holdings of JKHY. Principal Financial Group Inc. boosted its stake in shares of Jack Henry & Associates by 188.4% during the 2nd quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock worth $46,819,000 after purchasing an additional 184,210 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Jack Henry & Associates by 51.4% during the 2nd quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock worth $83,665,000 after acquiring an additional 171,041 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Jack Henry & Associates by 2,032.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock worth $22,540,000 after acquiring an additional 121,667 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Jack Henry & Associates by 6,680.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after acquiring an additional 113,696 shares during the period. Finally, Tandem Investment Advisors Inc. lifted its holdings in shares of Jack Henry & Associates by 20.4% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock worth $83,496,000 after acquiring an additional 85,175 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

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.