Jack Henry & Associates, Inc. (NASDAQ:JKHY) to Post Q2 2020 Earnings of $0.95 Per Share, Oppenheimer Forecasts

Jack Henry & Associates, Inc. (NASDAQ:JKHY) – Research analysts at Oppenheimer raised their Q2 2020 earnings per share estimates for Jack Henry & Associates in a research report issued on Tuesday, November 5th. Oppenheimer analyst G. Greene now anticipates that the technology company will post earnings of $0.95 per share for the quarter, up from their previous estimate of $0.87. Oppenheimer also issued estimates for Jack Henry & Associates’ Q3 2020 earnings at $0.81 EPS, Q4 2020 earnings at $0.91 EPS, FY2020 earnings at $3.88 EPS, Q1 2021 earnings at $1.29 EPS, Q2 2021 earnings at $1.02 EPS, Q3 2021 earnings at $0.94 EPS, Q4 2021 earnings at $1.12 EPS and FY2021 earnings at $4.37 EPS.

Other research analysts also recently issued reports about the stock. Wells Fargo & Co lifted their target price on shares of Jack Henry & Associates from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday. BidaskClub raised shares of Jack Henry & Associates from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine raised shares of Jack Henry & Associates from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 30th. Atlantic Securities assumed coverage on shares of Jack Henry & Associates in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $147.00 target price on the stock. Finally, Zacks Investment Research raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Jack Henry & Associates has an average rating of “Buy” and a consensus target price of $154.20.

Jack Henry & Associates stock opened at $149.51 on Friday. The firm’s 50 day simple moving average is $143.67 and its 200-day simple moving average is $140.31. The company has a market cap of $11.21 billion, a P/E ratio of 42.47, a price-to-earnings-growth ratio of 3.49 and a beta of 0.88. Jack Henry & Associates has a fifty-two week low of $120.20 and a fifty-two week high of $151.66.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Monday, November 4th. The technology company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.12. The business had revenue of $438.00 million for the quarter, compared to the consensus estimate of $420.34 million. Jack Henry & Associates had a net margin of 17.38% and a return on equity of 19.41%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share.

A number of institutional investors and hedge funds have recently made changes to their positions in JKHY. Parnassus Investments CA purchased a new position in Jack Henry & Associates during the second quarter valued at approximately $72,452,000. Bank of New York Mellon Corp grew its position in Jack Henry & Associates by 24.7% in the second quarter. Bank of New York Mellon Corp now owns 1,546,569 shares of the technology company’s stock worth $207,116,000 after acquiring an additional 306,167 shares in the last quarter. BlackRock Inc. grew its position in Jack Henry & Associates by 3.2% in the second quarter. BlackRock Inc. now owns 7,898,053 shares of the technology company’s stock worth $1,057,706,000 after acquiring an additional 247,051 shares in the last quarter. Nuveen Asset Management LLC grew its position in Jack Henry & Associates by 348.2% in the second quarter. Nuveen Asset Management LLC now owns 242,641 shares of the technology company’s stock worth $32,495,000 after acquiring an additional 188,503 shares in the last quarter. Finally, Artemis Investment Management LLP grew its position in Jack Henry & Associates by 183.7% in the second quarter. Artemis Investment Management LLP now owns 245,024 shares of the technology company’s stock worth $32,289,000 after acquiring an additional 158,663 shares in the last quarter. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Mark S. Forbis sold 1,479 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $148.29, for a total transaction of $219,320.91. Following the transaction, the vice president now directly owns 1,621 shares of the company’s stock, valued at $240,378.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ronald L. Moses sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $146.60, for a total transaction of $263,880.00. Following the transaction, the vice president now directly owns 1,838 shares in the company, valued at $269,450.80. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

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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