Jack Henry & Associates (NASDAQ:JKHY) Price Target Raised to $175.00 at Evercore ISI

Jack Henry & Associates (NASDAQ:JKHY) had its price objective hoisted by Evercore ISI from $172.00 to $175.00 in a research note released on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the technology company’s stock.

Several other equities research analysts have also issued reports on JKHY. DA Davidson reaffirmed a buy rating and issued a $198.00 price objective on shares of Jack Henry & Associates in a research note on Tuesday, April 30th. William Blair reaffirmed an outperform rating on shares of Jack Henry & Associates in a research note on Wednesday, May 8th. Robert W. Baird raised their price objective on Jack Henry & Associates from $180.00 to $186.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. Wolfe Research initiated coverage on Jack Henry & Associates in a research note on Thursday, March 7th. They issued a peer perform rating for the company. Finally, StockNews.com lowered Jack Henry & Associates from a buy rating to a hold rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $174.67.

Jack Henry & Associates Stock Performance

NASDAQ JKHY opened at $166.36 on Tuesday. The stock has a market capitalization of $12.13 billion, a PE ratio of 32.12, a P/E/G ratio of 4.31 and a beta of 0.62. The business has a 50 day simple moving average of $165.15 and a two-hundred day simple moving average of $167.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.39 and a quick ratio of 1.39. 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 released its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.02. The business had revenue of $538.56 million during the quarter, compared to analysts’ expectations of $541.80 million. Jack Henry & Associates had a return on equity of 22.18% and a net margin of 17.28%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS. On average, research analysts predict that Jack Henry & Associates will post 5.19 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, May 28th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, May 24th. This represents a $2.20 annualized dividend and a yield of 1.32%. Jack Henry & Associates’s payout ratio is currently 42.47%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in Jack Henry & Associates during the 1st quarter worth $30,000. Planned Solutions Inc. purchased a new position in Jack Henry & Associates during the 4th quarter worth $33,000. Anchor Investment Management LLC purchased a new position in Jack Henry & Associates during the 4th quarter worth $35,000. VisionPoint Advisory Group LLC purchased a new position in Jack Henry & Associates during the 4th quarter worth $44,000. Finally, Riverview Trust Co purchased a new position in Jack Henry & Associates during the 1st quarter worth $51,000. 98.75% of the stock is currently 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.