Zacks Investment Research Upgrades Jack Henry & Associates, Inc. (JKHY) to Buy

Zacks Investment Research upgraded shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) from a hold rating to a buy rating in a report issued on Thursday morning. They currently have $100.00 target price on the stock.

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. “

Separately, Stephens set a $90.00 price objective on shares of Jack Henry & Associates and gave the company a hold rating in a research report on Wednesday, November 9th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $91.33.

Jack Henry & Associates (NASDAQ:JKHY) opened at 91.05 on Thursday. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 27.73 and a beta of 0.69. The stock’s 50 day moving average is $90.02 and its 200-day moving average is $87.09. Jack Henry & Associates has a 52-week low of $77.05 and a 52-week high of $91.78.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Tuesday, February 7th. The company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.01. The company had revenue of $348.55 million for the quarter, compared to the consensus estimate of $346.41 million. Jack Henry & Associates had a net margin of 18.60% and a return on equity of 26.66%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Equities research analysts anticipate that Jack Henry & Associates will post $3.12 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Thursday, March 2nd will be given a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.36%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 34.15%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SevenBridge Financial Group LLC acquired a new position in Jack Henry & Associates during the second quarter valued at $1,324,000. Commonwealth Bank of Australia boosted its stake in shares of Jack Henry & Associates by 20.0% in the second quarter. Commonwealth Bank of Australia now owns 138,106 shares of the company’s stock worth $12,053,000 after buying an additional 23,029 shares during the period. Neumeier Poma Investment Counsel LLC boosted its stake in shares of Jack Henry & Associates by 0.7% in the second quarter. Neumeier Poma Investment Counsel LLC now owns 271,010 shares of the company’s stock worth $23,651,000 after buying an additional 2,000 shares during the period. US Bancorp DE boosted its stake in shares of Jack Henry & Associates by 37.8% in the second quarter. US Bancorp DE now owns 226,561 shares of the company’s stock worth $19,773,000 after buying an additional 62,091 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Jack Henry & Associates by 0.3% in the second quarter. Royce & Associates LP now owns 591,700 shares of the company’s stock worth $51,638,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 86.91% of the company’s stock.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a provider of information processing solutions for community banks. The Company offers a range of products and services, including processing transactions, automating business processes, and managing information financial institutions and diverse corporate entities. It operates in two segments: bank systems and services (Bank) and credit union systems and services (Credit Union).

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