Jack Henry & Associates (NASDAQ:JKHY) Downgraded to “Neutral” Rating by Northcoast Research

Northcoast Research downgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a buy rating to a neutral rating in a research note published on Monday morning, Marketbeat.com reports.

JKHY has been the subject of several other research reports. Wells Fargo & Company began coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They set an “underweight” rating and a $155.00 target price for the company. StockNews.com lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $186.80.

Jack Henry & Associates Stock Down 0.6 %

Shares of NASDAQ JKHY opened at $190.15 on Monday. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 3.36 and a beta of 0.65. Jack Henry & Associates has a 1 year low of $157.00 and a 1 year high of $196.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50-day simple moving average is $173.75 and its 200-day simple moving average is $175.94.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. As a group, equities analysts anticipate that Jack Henry & Associates will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, March 6th. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio is 41.88%.

Hedge Funds Weigh In On Jack Henry & Associates

A number of hedge funds have recently added to or reduced their stakes in JKHY. Vanguard Group Inc. grew its position in Jack Henry & Associates by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 8,811,373 shares of the technology company’s stock valued at $1,544,634,000 after buying an additional 157,360 shares during the period. State Street Corp grew its position in shares of Jack Henry & Associates by 1.7% in the third quarter. State Street Corp now owns 3,976,658 shares of the technology company’s stock valued at $702,039,000 after purchasing an additional 67,716 shares in the last quarter. Invesco Ltd. increased its position in shares of Jack Henry & Associates by 29.9% during the fourth quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock valued at $359,523,000 after buying an additional 471,507 shares during the period. Geode Capital Management LLC boosted its position in shares of Jack Henry & Associates by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,990,506 shares of the technology company’s stock valued at $349,796,000 after acquiring an additional 24,709 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Jack Henry & Associates by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after purchasing an additional 131,515 shares in 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.