Zacks Investment Research Upgrades Jack Henry & Associates (JKHY) to Hold

Zacks Investment Research upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a sell rating to a hold rating in a research note published on Wednesday.

According to Zacks, “Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States. A technology provider for the financial industry. That’s the simplest way to describe what they do. But it hardly describes what Jack Henry & Associates is really about. Jack Henry & Associates are about solutions and support. They’re about building relationships and making things work. The Company are about doing the right things for our customers, no matter what. It began as a vision, and it’s become our tradition. “

Several other research firms also recently issued reports on JKHY. ValuEngine downgraded shares of Jack Henry & Associates from a strong-buy rating to a buy rating in a report on Thursday, November 8th. BidaskClub downgraded shares of Jack Henry & Associates from a strong-buy rating to a buy rating in a report on Saturday, November 10th. Cantor Fitzgerald reaffirmed a buy rating and set a $163.00 price objective on shares of Jack Henry & Associates in a report on Tuesday, February 5th. Raymond James began coverage on shares of Jack Henry & Associates in a report on Wednesday, February 20th. They set a market perform rating for the company. Finally, Wells Fargo & Co raised shares of Jack Henry & Associates from a market perform rating to an outperform rating and decreased their price objective for the stock from $160.00 to $155.00 in a report on Thursday, February 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $152.75.

NASDAQ JKHY opened at $133.76 on Wednesday. The firm has a market cap of $10.23 billion, a P/E ratio of 37.26, a PEG ratio of 3.36 and a beta of 0.89. Jack Henry & Associates has a 1 year low of $115.85 and a 1 year high of $163.68.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.03. The business had revenue of $386.28 million during the quarter, compared to the consensus estimate of $380.40 million. Jack Henry & Associates had a net margin of 19.57% and a return on equity of 23.57%. Jack Henry & Associates’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 EPS. On average, analysts anticipate that Jack Henry & Associates will post 3.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Friday, March 1st will be paid a dividend of $0.40 per share. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, February 28th. Jack Henry & Associates’s dividend payout ratio is presently 41.23%.

In related news, VP Mark S. Forbis sold 3,000 shares of the company’s stock in a transaction on Monday, December 10th. The shares were sold at an average price of $134.91, for a total transaction of $404,730.00. Following the completion of the transaction, the vice president now directly owns 5,038 shares in the company, valued at approximately $679,676.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John F. Prim sold 7,575 shares of the company’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $131.91, for a total transaction of $999,218.25. Following the transaction, the director now owns 218,491 shares of the company’s stock, valued at $28,821,147.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,963 shares of company stock valued at $1,989,746. Corporate insiders own 0.84% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Jack Henry & Associates by 1.8% in the 3rd quarter. BlackRock Inc. now owns 9,157,589 shares of the technology company’s stock valued at $1,465,948,000 after buying an additional 163,238 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Jack Henry & Associates by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 7,854,780 shares of the technology company’s stock valued at $1,257,394,000 after buying an additional 60,151 shares in the last quarter. Capital World Investors raised its stake in shares of Jack Henry & Associates by 35.2% in the 3rd quarter. Capital World Investors now owns 6,876,882 shares of the technology company’s stock valued at $1,100,851,000 after buying an additional 1,790,330 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Jack Henry & Associates by 9,075.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,617,727 shares of the technology company’s stock valued at $36,000 after buying an additional 4,567,400 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Jack Henry & Associates by 40.0% in the 4th quarter. Geode Capital Management LLC now owns 1,395,069 shares of the technology company’s stock valued at $176,281,000 after buying an additional 398,777 shares in the last quarter. Hedge funds and other institutional investors own 85.00% of the company’s stock.

Jack Henry & Associates Company Profile

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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