Jack Henry & Associates (NASDAQ:JKHY) Sets New 12-Month High at $178.40

Jack Henry & Associates, Inc. (NASDAQ:JKHY)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $178.40 and last traded at $178.23, with a volume of 55468 shares. The stock had previously closed at $176.54.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JKHY. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $181.00 price target on shares of Jack Henry & Associates in a research report on Friday, September 6th. StockNews.com raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Evercore ISI lifted their price objective on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Keefe, Bruyette & Woods upped their price objective on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, August 22nd. Finally, Oppenheimer initiated coverage on shares of Jack Henry & Associates in a report on Tuesday. They set an “outperform” rating and a $206.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $180.00.

Jack Henry & Associates Price Performance

The business’s fifty day moving average price is $170.41 and its 200 day moving average price is $167.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $13.10 billion, a P/E ratio of 34.08, a PEG ratio of 3.09 and a beta of 0.64.

Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The firm had revenue of $559.91 million for the quarter, compared to analyst estimates of $563.37 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. During the same period in the previous year, the firm posted $1.34 EPS. Sell-side analysts forecast that Jack Henry & Associates, Inc. will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is presently 42.47%.

Institutional Investors Weigh In On Jack Henry & Associates

Several large investors have recently modified their holdings of JKHY. Sanctuary Advisors LLC acquired a new stake in Jack Henry & Associates during the 2nd quarter worth about $4,791,000. New Wave Wealth Advisors LLC bought a new position in Jack Henry & Associates during the second quarter worth $273,000. Cetera Investment Advisers grew its holdings in Jack Henry & Associates by 23.0% in the second quarter. Cetera Investment Advisers now owns 19,479 shares of the technology company’s stock worth $3,234,000 after purchasing an additional 3,636 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Jack Henry & Associates by 3.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,216 shares of the technology company’s stock valued at $1,364,000 after purchasing an additional 254 shares in the last quarter. Finally, Silver Lake Advisory LLC raised its holdings in shares of Jack Henry & Associates by 2.1% during the second quarter. Silver Lake Advisory LLC now owns 32,580 shares of the technology company’s stock valued at $5,409,000 after purchasing an additional 682 shares during the period. 98.75% of the stock is currently 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.