Zacks Investment Research upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a sell rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States. A technology provider for the financial industry. That’s the simplest way to describe what they do. But it hardly describes what Jack Henry & Associates is really about. Jack Henry & Associates are about solutions and support. They’re about building relationships and making things work. The Company are about doing the right things for our customers, no matter what. It began as a vision, and it’s become our tradition. “
Several other brokerages have also recently issued reports on JKHY. ValuEngine upgraded shares of Jack Henry & Associates from a buy rating to a strong-buy rating in a research report on Wednesday, October 24th. BidaskClub cut shares of Jack Henry & Associates from a strong-buy rating to a buy rating in a research report on Saturday, November 10th. Finally, Cantor Fitzgerald restated a buy rating and set a $163.00 target price on shares of Jack Henry & Associates in a research report on Tuesday, February 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Jack Henry & Associates currently has an average rating of Buy and an average target price of $152.75.
Shares of JKHY stock opened at $132.67 on Thursday. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 36.96, a P/E/G ratio of 3.36 and a beta of 0.89. Jack Henry & Associates has a 52 week low of $112.78 and a 52 week high of $163.68.
Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, February 5th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.03. The firm had revenue of $386.28 million for the quarter, compared to analysts’ expectations of $380.40 million. Jack Henry & Associates had a net margin of 19.57% and a return on equity of 23.57%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 EPS. As a group, equities analysts forecast that Jack Henry & Associates will post 3.58 earnings per share for the current year.
In other news, VP Mark S. Forbis sold 3,000 shares of the company’s stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $134.91, for a total transaction of $404,730.00. Following the sale, the vice president now directly owns 5,038 shares in the company, valued at approximately $679,676.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Utah Retirement Systems grew its holdings in Jack Henry & Associates by 0.7% during the 4th quarter. Utah Retirement Systems now owns 14,400 shares of the technology company’s stock valued at $1,822,000 after purchasing an additional 100 shares during the last quarter. Eaton Vance Management lifted its position in shares of Jack Henry & Associates by 1.6% in the 4th quarter. Eaton Vance Management now owns 6,579 shares of the technology company’s stock worth $832,000 after purchasing an additional 104 shares during the period. IFP Advisors Inc lifted its position in shares of Jack Henry & Associates by 10.7% in the 4th quarter. IFP Advisors Inc now owns 1,136 shares of the technology company’s stock worth $142,000 after purchasing an additional 110 shares during the period. Empire Life Investments Inc. lifted its position in shares of Jack Henry & Associates by 3.1% in the 4th quarter. Empire Life Investments Inc. now owns 4,164 shares of the technology company’s stock worth $527,000 after purchasing an additional 126 shares during the period. Finally, SignalPoint Asset Management LLC lifted its position in shares of Jack Henry & Associates by 2.4% in the 4th quarter. SignalPoint Asset Management LLC now owns 6,200 shares of the technology company’s stock worth $784,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 95.34% of the company’s stock.
Jack Henry & Associates Company Profile
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
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