Wall Street Zen Downgrades Jack Henry & Associates (NASDAQ:JKHY) to Hold

Wall Street Zen 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.

Other research analysts have also issued reports about the company. UBS Group reduced their target price on Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Northcoast Research lowered Jack Henry & Associates from a “buy” rating to a “neutral” rating in a report on Monday, March 10th. The Goldman Sachs Group raised Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 target price on the stock in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $185.11.

Jack Henry & Associates Price Performance

Shares of JKHY stock opened at $181.41 on Friday. Jack Henry & Associates has a twelve month low of $158.62 and a twelve month high of $196.00. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 2.93 and a beta of 0.72. The stock has a fifty day simple moving average of $179.50 and a two-hundred day simple moving average of $176.04. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.29 by $0.23. The firm had revenue of $585.09 million during the quarter, compared to analyst estimates of $585.84 million. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. On average, analysts predict that Jack Henry & Associates will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were given a $0.58 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.32 annualized dividend and a dividend yield of 1.28%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 39.52%.

Hedge Funds Weigh In On Jack Henry & Associates

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Jack Henry & Associates by 169.0% in the first quarter. SG Americas Securities LLC now owns 3,349 shares of the technology company’s stock valued at $612,000 after acquiring an additional 2,104 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Jack Henry & Associates by 11.4% in the first quarter. Asset Management One Co. Ltd. now owns 31,725 shares of the technology company’s stock valued at $5,793,000 after purchasing an additional 3,237 shares during the last quarter. Enterprise Financial Services Corp acquired a new stake in shares of Jack Henry & Associates in the fourth quarter valued at approximately $900,000. Tandem Investment Advisors Inc. increased its holdings in shares of Jack Henry & Associates by 14.5% in the first quarter. Tandem Investment Advisors Inc. now owns 649,236 shares of the technology company’s stock valued at $118,550,000 after purchasing an additional 82,414 shares during the last quarter. Finally, Andra AP fonden increased its holdings in shares of Jack Henry & Associates by 10.7% in the fourth quarter. Andra AP fonden now owns 29,900 shares of the technology company’s stock valued at $5,241,000 after purchasing an additional 2,900 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.