Brokerages Set Jack Henry & Associates, Inc. (NASDAQ:JKHY) Target Price at $172.42

Jack Henry & Associates, Inc. (NASDAQ:JKHY) has earned an average rating of “Hold” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $172.42.

Several research analysts recently weighed in on the company. Evercore ISI upped their price target on Jack Henry & Associates from $157.00 to $172.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. StockNews.com lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Wolfe Research assumed coverage on shares of Jack Henry & Associates in a report on Thursday, March 7th. They set a “peer perform” rating for the company. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research note on Wednesday, February 7th. Finally, Citigroup assumed coverage on shares of Jack Henry & Associates in a research note on Thursday, January 18th. They set a “neutral” rating and a $177.00 target price for the company.

Institutional Trading of Jack Henry & Associates

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Jack Henry & Associates by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 8,648,977 shares of the technology company’s stock valued at $1,413,329,000 after acquiring an additional 29,182 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Jack Henry & Associates by 1.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,742,546 shares of the technology company’s stock valued at $565,648,000 after purchasing an additional 46,534 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Jack Henry & Associates by 1.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,942,887 shares of the technology company’s stock worth $317,487,000 after buying an additional 24,910 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Jack Henry & Associates by 15.3% in the third quarter. Invesco Ltd. now owns 1,106,851 shares of the technology company’s stock worth $167,289,000 after buying an additional 147,143 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Jack Henry & Associates by 21.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,043,098 shares of the technology company’s stock worth $157,654,000 after buying an additional 181,811 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Price Performance

JKHY stock opened at $165.20 on Monday. Jack Henry & Associates has a one year low of $136.57 and a one year high of $178.37. The firm has a 50-day moving average of $170.82 and a two-hundred day moving average of $163.00. The firm has a market capitalization of $12.04 billion, a PE ratio of 32.33, a P/E/G ratio of 3.86 and a beta of 0.66. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.15.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.26 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 business had revenue of $545.70 million during the quarter, compared to the consensus estimate of $540.34 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that Jack Henry & Associates will post 5.11 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

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

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.