Jack Henry & Associates, Inc. (JKHY) Given Consensus Recommendation of “Buy” by Brokerages

Jack Henry & Associates, Inc. (NASDAQ:JKHY) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $151.00.

JKHY has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Jack Henry & Associates from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. BidaskClub upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. Cantor Fitzgerald restated a “buy” rating and issued a $163.00 price objective on shares of Jack Henry & Associates in a report on Tuesday, February 5th. Finally, Wells Fargo & Co upgraded Jack Henry & Associates from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $160.00 to $155.00 in a report on Thursday, February 7th.

Shares of NASDAQ:JKHY opened at $138.74 on Friday. Jack Henry & Associates has a 1 year low of $116.79 and a 1 year high of $163.68. The company has a market cap of $10.66 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 3.51 and a beta of 0.87.

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 analysts’ consensus estimates of $0.85 by $0.03. Jack Henry & Associates had a return on equity of 23.57% and a net margin of 19.57%. The firm had revenue of $386.28 million for the quarter, compared to analyst estimates of $380.40 million. During the same quarter last year, the firm posted $2.08 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, analysts expect that Jack Henry & Associates will post 3.57 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, March 1st were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.37. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 44.57%.

In related news, VP Ronald L. Moses sold 750 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $134.20, for a total transaction of $100,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John F. Prim sold 7,575 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $131.91, for a total value of $999,218.25. Following the sale, the director now directly owns 218,491 shares of the company’s stock, valued at $28,821,147.81. The disclosure for this sale can be found here. Insiders sold a total of 14,623 shares of company stock worth $1,945,586 in the last 90 days. 0.84% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of JKHY. Norges Bank acquired a new position in Jack Henry & Associates in the 4th quarter valued at about $85,836,000. Teacher Retirement System of Texas grew its position in Jack Henry & Associates by 78.6% in the 4th quarter. Teacher Retirement System of Texas now owns 323,913 shares of the technology company’s stock valued at $40,981,000 after acquiring an additional 142,600 shares in the last quarter. FMR LLC grew its position in Jack Henry & Associates by 146.1% in the 4th quarter. FMR LLC now owns 220,582 shares of the technology company’s stock valued at $27,908,000 after acquiring an additional 130,940 shares in the last quarter. Kentucky Retirement Systems acquired a new position in Jack Henry & Associates in the 4th quarter valued at about $425,000. Finally, Nordea Investment Management AB grew its position in Jack Henry & Associates by 37.1% in the 4th quarter. Nordea Investment Management AB now owns 3,382 shares of the technology company’s stock valued at $428,000 after acquiring an additional 916 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

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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