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. “
JKHY has been the topic of a number of other research reports. Raymond James assumed coverage on Jack Henry & Associates in a report on Wednesday, February 20th. They set a market perform rating on the stock. BidaskClub downgraded Jack Henry & Associates from a buy rating to a hold rating in a report on Wednesday, January 9th. Wells Fargo & Co raised Jack Henry & Associates from a market perform rating to an outperform rating and reduced their target price for the stock from $160.00 to $155.00 in a report on Thursday, February 7th. Cantor Fitzgerald reaffirmed a buy rating and set a $150.00 target price on shares of Jack Henry & Associates in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods began coverage on Jack Henry & Associates in a report on Monday, April 8th. They set a market perform rating and a $145.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $150.40.
Shares of JKHY opened at $134.77 on Tuesday. The stock has a market capitalization of $10.34 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 3.48 and a beta of 0.89. Jack Henry & Associates has a one year low of $119.30 and a one year high of $163.68.
Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, April 30th. The technology company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Jack Henry & Associates had a return on equity of 21.72% and a net margin of 18.79%. The company had revenue of $380.36 million for the quarter, compared to the consensus estimate of $382.45 million. During the same quarter last year, the business posted $0.89 EPS. Jack Henry & Associates’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Jack Henry & Associates will post 3.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, May 22nd. Jack Henry & Associates’s dividend payout ratio (DPR) is 44.57%.
In related news, insider Mark S. Forbis sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $134.74, for a total value of $134,740.00. Following the sale, the insider now owns 1,013 shares of the company’s stock, valued at approximately $136,491.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John F. Prim sold 7,575 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $131.91, for a total value of $999,218.25. Following the completion of the sale, the director now directly owns 218,491 shares in the company, valued at approximately $28,821,147.81. The disclosure for this sale can be found here. In the last three months, insiders sold 14,623 shares of company stock worth $1,945,586. Company insiders own 0.84% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SignalPoint Asset Management LLC increased its position in Jack Henry & Associates by 1.4% in the 1st quarter. SignalPoint Asset Management LLC now owns 6,285 shares of the technology company’s stock valued at $872,000 after acquiring an additional 85 shares during the period. Piedmont Investment Advisors Inc. increased its position in Jack Henry & Associates by 1.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,810 shares of the technology company’s stock valued at $945,000 after acquiring an additional 99 shares during the period. Utah Retirement Systems increased its position in Jack Henry & Associates by 0.7% in the 4th quarter. Utah Retirement Systems now owns 14,400 shares of the technology company’s stock valued at $1,822,000 after acquiring an additional 100 shares during the period. State Treasurer State of Michigan increased its position in Jack Henry & Associates by 0.5% in the 1st quarter. State Treasurer State of Michigan now owns 22,250 shares of the technology company’s stock valued at $3,087,000 after acquiring an additional 100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Jack Henry & Associates by 0.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,103 shares of the technology company’s stock valued at $1,818,000 after acquiring an additional 102 shares during the period. 90.52% of the stock is currently owned by institutional investors and hedge funds.
About Jack Henry & Associates
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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