Jack Henry & Associates (NASDAQ:JKHY) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Jack Henry & Associates (NASDAQ:JKHY) from a buy rating to a hold rating in a research report report published on Saturday morning.

A number of other equities analysts have also recently issued reports on JKHY. William Blair restated an outperform rating on shares of Jack Henry & Associates in a report on Wednesday, February 7th. Evercore ISI boosted their price objective on Jack Henry & Associates from $157.00 to $172.00 and gave the company an in-line rating in a report on Tuesday, March 26th. TheStreet upgraded Jack Henry & Associates from a c+ rating to a b- rating in a report on Friday, December 29th. Robert W. Baird boosted their price objective on Jack Henry & Associates from $180.00 to $186.00 and gave the company a neutral rating in a report on Wednesday, April 17th. Finally, Wolfe Research started coverage on Jack Henry & Associates in a report on Thursday, March 7th. They set a peer perform rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $172.42.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $164.84 on Friday. The company has a market cap of $12.01 billion, a P/E ratio of 32.26, a P/E/G ratio of 3.88 and a beta of 0.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50 day moving average price is $171.14 and its 200-day moving average price is $162.86. Jack Henry & Associates has a fifty-two week low of $136.57 and a fifty-two week high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Wednesday, February 7th. The technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.12. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. The firm had revenue of $545.70 million for the quarter, compared to the consensus estimate of $540.34 million. During the same quarter in the previous year, the company posted $1.10 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts predict that Jack Henry & Associates will post 5.11 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were paid a dividend of $0.55 per share. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.52. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, March 7th. Jack Henry & Associates’s dividend payout ratio is 43.05%.

Institutional Investors Weigh In On Jack Henry & Associates

Hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc increased its position in Jack Henry & Associates by 327.7% during the 4th quarter. TD Asset Management Inc now owns 544,781 shares of the technology company’s stock valued at $89,023,000 after buying an additional 417,401 shares in the last quarter. APG Asset Management US Inc. acquired a new position in Jack Henry & Associates during the 4th quarter valued at about $54,552,000. Assenagon Asset Management S.A. increased its position in Jack Henry & Associates by 1,587.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 347,018 shares of the technology company’s stock valued at $56,706,000 after buying an additional 326,448 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Jack Henry & Associates by 96.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 565,659 shares of the technology company’s stock valued at $92,434,000 after buying an additional 277,945 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Jack Henry & Associates by 250.4% in the fourth quarter. Epoch Investment Partners Inc. now owns 291,514 shares of the technology company’s stock valued at $47,636,000 after purchasing an additional 208,322 shares during the period. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

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.