Keefe, Bruyette & Woods Begins Coverage on Jack Henry & Associates (NASDAQ:JKHY)

Keefe, Bruyette & Woods started coverage on shares of Jack Henry & Associates (NASDAQ:JKHY) in a report published on Monday, April 8th, BenzingaRatingsTable reports. The brokerage issued a market perform rating and a $145.00 target price on the technology company’s stock.

Several other research firms have also commented on JKHY. Zacks Investment Research upgraded shares of Jack Henry & Associates from a sell rating to a hold rating in a report on Thursday, February 7th. Wells Fargo & Co upgraded shares of Jack Henry & Associates from a market perform rating to an outperform rating and reduced their price objective for the stock from $160.00 to $155.00 in a research note on Thursday, February 7th. Raymond James started coverage on shares of Jack Henry & Associates in a research note on Wednesday, February 20th. They set a market perform rating on the stock. Cantor Fitzgerald reaffirmed a buy rating and issued a $163.00 price objective on shares of Jack Henry & Associates in a report on Tuesday, February 5th. Finally, BidaskClub raised shares of Jack Henry & Associates from a hold rating to a buy rating in a report on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Jack Henry & Associates presently has an average rating of Hold and an average price target of $151.20.

Shares of JKHY stock traded down $0.06 during trading hours on Monday, reaching $144.06. 329,516 shares of the stock were exchanged, compared to its average volume of 485,374. Jack Henry & Associates has a 12-month low of $116.79 and a 12-month high of $163.68. The stock has a market cap of $11.05 billion, a PE ratio of 40.13, a P/E/G ratio of 3.65 and a beta of 0.88.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data 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 company had revenue of $386.28 million during 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 firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.08 EPS. On average, equities research analysts predict that Jack Henry & Associates will post 3.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, March 1st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, February 28th. Jack Henry & Associates’s dividend payout ratio is 44.57%.

In other news, VP Stacey E. Zengel sold 4,388 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $133.50, for a total value of $585,798.00. Following the completion of the sale, the vice president now directly owns 4,453 shares in the company, valued at $594,475.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Russell L. Bernthal sold 910 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $137.56, for a total transaction of $125,179.60. Following the sale, the vice president now owns 4,831 shares of the company’s stock, valued at $664,552.36. The disclosure for this sale can be found here. Insiders sold 14,623 shares of company stock valued at $1,945,586 over the last quarter. Company insiders own 0.84% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC purchased a new position in Jack Henry & Associates during the first quarter worth about $25,000. Cutler Group LP purchased a new position in Jack Henry & Associates during the fourth quarter worth about $25,000. Sun Life Financial INC purchased a new position in Jack Henry & Associates during the fourth quarter worth about $27,000. Executive Wealth Management LLC purchased a new position in Jack Henry & Associates during the fourth quarter worth about $27,000. Finally, Guardian Life Insurance Co. of America purchased a new position in Jack Henry & Associates during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

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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Analyst Recommendations for Jack Henry & Associates (NASDAQ:JKHY)

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