Jack Henry & Associates (NASDAQ:JKHY) Now Covered by Oppenheimer

Investment analysts at Oppenheimer initiated coverage on shares of Jack Henry & Associates (NASDAQ:JKHY) in a report released on Tuesday, StockNewsAPI reports. The firm set an “outperform” rating and a $206.00 price target on the technology company’s stock. Oppenheimer’s price objective points to a potential upside of 16.69% from the company’s previous close.

Several other equities research analysts also recently issued reports on JKHY. Compass Point assumed coverage on Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, August 22nd. Evercore ISI increased their target price on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. StockNews.com upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $181.00 price objective on shares of Jack Henry & Associates in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Jack Henry & Associates currently has an average rating of “Hold” and an average price target of $180.00.

Jack Henry & Associates Stock Performance

JKHY opened at $176.54 on Tuesday. Jack Henry & Associates has a 1-year low of $136.57 and a 1-year high of $178.37. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 3.09 and a beta of 0.64. The company’s fifty day moving average price is $170.41 and its two-hundred day moving average price is $167.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. The business had revenue of $559.91 million for the quarter, compared to analysts’ expectations of $563.37 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. During the same quarter last year, the firm earned $1.34 EPS. On average, analysts expect that Jack Henry & Associates will post 5.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Jack Henry & Associates

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JKHY. Strategic Financial Concepts LLC bought a new stake in shares of Jack Henry & Associates during the 2nd quarter valued at $25,000. Tortoise Investment Management LLC boosted its position in shares of Jack Henry & Associates by 76.3% in the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after acquiring an additional 71 shares during the period. New Covenant Trust Company N.A. purchased a new position in Jack Henry & Associates during the first quarter valued at approximately $30,000. Blue Trust Inc. increased its holdings in Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after acquiring an additional 134 shares during the period. Finally, Riverview Trust Co bought a new stake in Jack Henry & Associates during the 1st quarter worth approximately $51,000. Institutional investors own 98.75% of the company’s stock.

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.