Jack Henry & Associates (NASDAQ:JKHY) Price Target Raised to $172.00

Jack Henry & Associates (NASDAQ:JKHY) had its price objective boosted by Evercore ISI from $157.00 to $172.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an in-line rating on the technology company’s stock.

Several other research firms have also issued reports on JKHY. Bank of America upgraded shares of Jack Henry & Associates from a neutral rating to a buy rating and lifted their target price for the company from $167.00 to $186.00 in a report on Wednesday, December 6th. TheStreet upgraded shares of Jack Henry & Associates from a c+ rating to a b- rating in a report on Friday, December 29th. Royal Bank of Canada boosted their price objective on shares of Jack Henry & Associates from $161.00 to $181.00 and gave the stock a sector perform rating in a report on Thursday, February 8th. Robert W. Baird restated a neutral rating and issued a $176.00 price objective on shares of Jack Henry & Associates in a report on Tuesday, January 30th. Finally, William Blair restated an outperform rating on shares of Jack Henry & Associates in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $171.00.

Jack Henry & Associates Price Performance

JKHY stock opened at $173.73 on Tuesday. The firm has a 50 day moving average price of $171.15 and a 200-day moving average price of $160.55. Jack Henry & Associates has a 52-week low of $136.57 and a 52-week high of $178.37. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 3.90 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.

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

Jack Henry & Associates Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.52. This represents a $2.20 dividend on an annualized basis and a yield of 1.27%. Jack Henry & Associates’s payout ratio is currently 43.05%.

Institutional Investors Weigh In On Jack Henry & Associates

Hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its position in shares of Jack Henry & Associates by 16.1% during the 3rd quarter. Nordea Investment Management AB now owns 545,605 shares of the technology company’s stock valued at $82,779,000 after acquiring an additional 75,735 shares during the period. Inspire Investing LLC grew its position in shares of Jack Henry & Associates by 5.1% during the 3rd quarter. Inspire Investing LLC now owns 4,446 shares of the technology company’s stock valued at $672,000 after acquiring an additional 217 shares during the period. CWM LLC grew its position in shares of Jack Henry & Associates by 7.8% during the 3rd quarter. CWM LLC now owns 1,945 shares of the technology company’s stock valued at $294,000 after acquiring an additional 141 shares during the period. State Street Corp grew its position in shares of Jack Henry & Associates by 0.6% during the 2nd quarter. State Street Corp now owns 3,223,752 shares of the technology company’s stock valued at $539,430,000 after acquiring an additional 19,148 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Jack Henry & Associates by 202.0% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,106 shares of the technology company’s stock valued at $1,527,000 after acquiring an additional 6,760 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.