Short Interest in Jack Henry & Associates, Inc. (NASDAQ:JKHY) Drops By 5.8%

Jack Henry & Associates, Inc. (NASDAQ:JKHY) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 1,950,000 shares, a decline of 5.8% from the September 15th total of 2,070,000 shares. Based on an average daily volume of 437,500 shares, the short-interest ratio is presently 4.5 days. Currently, 2.7% of the company’s stock are sold short.

Analysts Set New Price Targets

JKHY has been the subject of a number of recent research reports. StockNews.com upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods increased their target price on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, August 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $181.00 price target on shares of Jack Henry & Associates in a research report on Friday, September 6th. Evercore ISI raised their price objective on Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, Oppenheimer assumed coverage on Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $184.00.

Jack Henry & Associates Trading Up 0.5 %

Jack Henry & Associates stock opened at $185.67 on Thursday. The stock has a 50-day moving average price of $173.72 and a 200 day moving average price of $168.85. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 3.35 and a beta of 0.64. Jack Henry & Associates has a 52 week low of $136.57 and a 52 week high of $186.77. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.38 EPS 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 the consensus estimate 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 period in the prior year, the firm earned $1.34 EPS. Sell-side analysts anticipate that Jack Henry & Associates will post 5.82 EPS for the current year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.18%. Jack Henry & Associates’s payout ratio is currently 42.47%.

Hedge Funds Weigh In On Jack Henry & Associates

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