Jack Henry & Associates, Inc. (JKHY) Expected to Post Quarterly Sales of $385.72 Million

Brokerages expect Jack Henry & Associates, Inc. (NASDAQ:JKHY) to report $385.72 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Jack Henry & Associates’ earnings. The highest sales estimate is $388.42 million and the lowest is $383.30 million. Jack Henry & Associates posted sales of $359.93 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.2%. The company is scheduled to announce its next quarterly earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Jack Henry & Associates will report full-year sales of $1.65 billion for the current fiscal year, with estimates ranging from $1.64 billion to $1.66 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.76 billion, with estimates ranging from $1.74 billion to $1.79 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Jack Henry & Associates.

Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, August 21st. The technology company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.15. The company had revenue of $417.20 million during the quarter, compared to analyst estimates of $407.57 million. Jack Henry & Associates had a net margin of 24.51% and a return on equity of 23.72%. Jack Henry & Associates’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share.

A number of research firms have recently weighed in on JKHY. Zacks Investment Research lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Cantor Fitzgerald increased their target price on shares of Jack Henry & Associates from $141.00 to $169.00 and gave the stock an “overweight” rating in a report on Thursday, August 23rd. BidaskClub lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Robert W. Baird increased their target price on shares of Jack Henry & Associates from $128.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday, July 16th. Finally, Wells Fargo & Co increased their target price on shares of Jack Henry & Associates from $110.00 to $160.00 and gave the stock a “market perform” rating in a report on Thursday, August 23rd. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $137.29.

In related news, Director John F. Prim sold 6,329 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $157.40, for a total value of $996,184.60. Following the completion of the transaction, the director now directly owns 206,318 shares of the company’s stock, valued at $32,474,453.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.78% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in JKHY. Qube Research & Technologies Ltd bought a new position in shares of Jack Henry & Associates during the second quarter valued at approximately $108,000. Cornerstone Wealth Management LLC bought a new position in shares of Jack Henry & Associates during the second quarter valued at approximately $114,000. Fort L.P. bought a new position in shares of Jack Henry & Associates during the second quarter valued at approximately $122,000. Signaturefd LLC increased its stake in shares of Jack Henry & Associates by 67.7% during the second quarter. Signaturefd LLC now owns 946 shares of the technology company’s stock valued at $123,000 after purchasing an additional 382 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Jack Henry & Associates by 311.3% during the second quarter. Bessemer Group Inc. now owns 1,090 shares of the technology company’s stock valued at $143,000 after purchasing an additional 825 shares in the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

Shares of Jack Henry & Associates stock traded up $2.91 during trading on Friday, reaching $157.23. 7,321 shares of the stock were exchanged, compared to its average volume of 366,535. The firm has a market cap of $12.35 billion, a P/E ratio of 43.63, a P/E/G ratio of 3.63 and a beta of 0.92. Jack Henry & Associates has a 1 year low of $104.06 and a 1 year high of $163.68.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Tuesday, September 11th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Monday, September 10th. Jack Henry & Associates’s payout ratio is currently 41.23%.

About Jack Henry & Associates

Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.

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Earnings History and Estimates for Jack Henry & Associates (NASDAQ:JKHY)

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