Jack Henry & Associates (NASDAQ:JKHY) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a buy rating to a hold rating in a research report released on Tuesday.

A number of other analysts also recently issued reports on JKHY. UBS Group lifted their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer began coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price target on the stock. Stephens restated an “equal weight” rating and issued a $170.00 price objective on shares of Jack Henry & Associates in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods lifted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $188.73.

Jack Henry & Associates Price Performance

Shares of NASDAQ JKHY opened at $173.10 on Tuesday. The company has a fifty day moving average price of $179.11 and a 200 day moving average price of $171.33. The firm has a market cap of $12.63 billion, a PE ratio of 31.70, a PEG ratio of 3.25 and a beta of 0.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates has a 1-year low of $153.05 and a 1-year high of $189.63.

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

Jack Henry & Associates Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, December 2nd. Jack Henry & Associates’s dividend payout ratio is 40.29%.

Insiders Place Their Bets

In other news, insider David B. Foss sold 18,770 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. This represents a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JKHY. Strategic Financial Concepts LLC acquired a new stake in Jack Henry & Associates during the second quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in Jack Henry & Associates in the 3rd quarter valued at $26,000. Tortoise Investment Management LLC lifted its position in shares of Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after acquiring an additional 71 shares during the period. New Covenant Trust Company N.A. acquired a new stake in shares of Jack Henry & Associates during the 1st quarter worth $30,000. Finally, Blue Trust Inc. increased its position in shares of Jack Henry & Associates by 148.9% in the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Company Profile

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.