Jack Henry & Associates (NASDAQ:JKHY) Lowered to “Hold” at StockNews.com

Jack Henry & Associates (NASDAQ:JKHY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also recently issued reports on JKHY. Evercore ISI lifted their price objective on Jack Henry & Associates from $157.00 to $172.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. DA Davidson reaffirmed a “buy” rating and issued a $198.00 price target on shares of Jack Henry & Associates in a research report on Tuesday, April 30th. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, May 8th. Robert W. Baird lifted their target price on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, Wolfe Research assumed coverage on shares of Jack Henry & Associates in a report on Thursday, March 7th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $174.42.

Jack Henry & Associates Stock Up 0.5 %

NASDAQ:JKHY opened at $166.74 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.39 and a quick ratio of 1.39. The firm’s 50-day moving average price is $165.07 and its 200-day moving average price is $167.69. The company has a market capitalization of $12.16 billion, a PE ratio of 32.19, a P/E/G ratio of 4.19 and a beta of 0.62. Jack Henry & Associates has a 1-year low of $136.57 and a 1-year high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. Jack Henry & Associates had a net margin of 17.28% and a return on equity of 22.18%. The business had revenue of $538.56 million for the quarter, compared to analysts’ expectations of $541.80 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. On average, equities analysts predict that Jack Henry & Associates will post 5.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Jack Henry & Associates by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,688,433 shares of the technology company’s stock worth $1,509,441,000 after purchasing an additional 39,456 shares during the period. CIBC Private Wealth Group LLC raised its position in 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 acquiring an additional 24,910 shares during the period. Northern Trust Corp boosted its stake in shares of Jack Henry & Associates by 3.5% during the 3rd quarter. Northern Trust Corp now owns 818,737 shares of the technology company’s stock worth $123,744,000 after acquiring an additional 28,017 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Jack Henry & Associates by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 764,600 shares of the technology company’s stock valued at $124,943,000 after acquiring an additional 75,200 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Jack Henry & Associates by 32.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 705,582 shares of the technology company’s stock worth $115,299,000 after purchasing an additional 171,477 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

About Jack Henry & Associates

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.