The Goldman Sachs Group Upgrades Jack Henry & Associates (NASDAQ:JKHY) to “Neutral”

Jack Henry & Associates (NASDAQ:JKHY) was upgraded by equities researchers at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report released on Wednesday, MarketBeat Ratings reports. The firm presently has a $183.00 target price on the technology company’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 0.87% from the stock’s previous close.

Several other brokerages have also commented on JKHY. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. Northcoast Research lowered Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research report on Monday, March 10th. Finally, Wells Fargo & Company began coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Jack Henry & Associates presently has an average rating of “Hold” and a consensus target price of $186.45.

Jack Henry & Associates Stock Performance

JKHY opened at $184.60 on Wednesday. The firm has a fifty day moving average price of $175.45 and a 200 day moving average price of $176.55. Jack Henry & Associates has a 1 year low of $157.00 and a 1 year high of $196.00. The stock has a market cap of $13.46 billion, a P/E ratio of 33.32, a P/E/G ratio of 3.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. Equities research analysts anticipate that Jack Henry & Associates will post 5.83 earnings per share for the current year.

Institutional Trading of Jack Henry & Associates

Several large investors have recently bought and sold shares of the business. Fortitude Family Office LLC lifted its stake in Jack Henry & Associates by 647.4% in the 4th quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Jack Henry & Associates during the third quarter worth approximately $26,000. National Pension Service purchased a new stake in Jack Henry & Associates in the 4th quarter valued at $27,000. ORG Partners LLC purchased a new stake in shares of Jack Henry & Associates in the fourth quarter valued at about $35,000. Finally, Atala Financial Inc purchased a new stake in shares of Jack Henry & Associates in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

About Jack Henry & Associates

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.