Jack Henry & Associates (NASDAQ:JKHY) Upgraded to Buy at StockNews.com

Jack Henry & Associates (NASDAQ:JKHYGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

JKHY has been the topic of a number of other research reports. DA Davidson increased their target price on Jack Henry & Associates from $188.00 to $204.00 in a report on Thursday, February 10th. Oppenheimer raised Jack Henry & Associates from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Tuesday, March 1st. Finally, Royal Bank of Canada increased their target price on Jack Henry & Associates from $180.00 to $190.00 in a report on Thursday, February 10th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.50.

Shares of Jack Henry & Associates stock traded up $0.30 during trading on Monday, hitting $186.38. 235,738 shares of the company’s stock traded hands, compared to its average volume of 575,960. Jack Henry & Associates has a 1 year low of $147.50 and a 1 year high of $205.37. The business has a 50-day simple moving average of $190.86 and a 200-day simple moving average of $176.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $13.58 billion, a P/E ratio of 38.19, a PEG ratio of 4.28 and a beta of 0.58.

Jack Henry & Associates (NASDAQ:JKHYGet Rating) last posted its earnings results on Tuesday, May 3rd. The technology company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.10. Jack Henry & Associates had a return on equity of 27.04% and a net margin of 18.81%. The company had revenue of $478.30 million for the quarter, compared to the consensus estimate of $475.52 million. During the same quarter in the prior year, the company earned $0.95 earnings per share. Jack Henry & Associates’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Jack Henry & Associates will post 4.83 earnings per share for the current fiscal year.

In other news, CEO David B. Foss sold 3,247 shares of the firm’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $188.08, for a total value of $610,695.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Concord Wealth Partners grew its position in shares of Jack Henry & Associates by 2,250.0% during the first quarter. Concord Wealth Partners now owns 141 shares of the technology company’s stock worth $28,000 after purchasing an additional 135 shares in the last quarter. Confluence Wealth Services Inc. purchased a new stake in shares of Jack Henry & Associates during the fourth quarter worth about $26,000. First National Bank of South Miami purchased a new position in Jack Henry & Associates during the 4th quarter valued at approximately $27,000. Bivin & Associates Inc. purchased a new position in Jack Henry & Associates during the 4th quarter valued at approximately $28,000. Finally, Altshuler Shaham Ltd purchased a new position in Jack Henry & Associates during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 89.58% of the company’s stock.

Jack Henry & Associates Company Profile (Get Rating)

Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The company offers information and transaction processing solutions for banks ranging from community to multi-billion-dollar asset 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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