Jack Henry & Associates, Inc. (NASDAQ:JKHY) Receives $176.55 Average Target Price from Analysts

Jack Henry & Associates, Inc. (NASDAQ:JKHY) has earned a consensus recommendation of “Hold” from the thirteen brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $176.55.

A number of research analysts have recently commented on JKHY shares. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price target on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, August 22nd. Compass Point assumed coverage on Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price objective on the stock. Evercore ISI boosted their price objective on Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $181.00 target price on shares of Jack Henry & Associates in a research report on Friday, September 6th.

Institutional Investors Weigh In On Jack Henry & Associates

A number of hedge funds and other institutional investors have recently bought and sold shares of JKHY. Vanguard Group Inc. grew its holdings in shares of Jack Henry & Associates by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,688,433 shares of the technology company’s stock worth $1,509,441,000 after purchasing an additional 39,456 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Jack Henry & Associates by 1.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company’s stock worth $657,158,000 after acquiring an additional 67,386 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Jack Henry & Associates by 1.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,942,887 shares of the technology company’s stock valued at $317,487,000 after acquiring an additional 24,910 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Jack Henry & Associates by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company’s stock worth $175,342,000 after acquiring an additional 23,617 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Jack Henry & Associates by 32.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 705,582 shares of the technology company’s stock worth $115,299,000 after purchasing an additional 171,477 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY opened at $173.59 on Thursday. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 3.09 and a beta of 0.64. The business has a 50 day moving average price of $169.70 and a 200 day moving average price of $167.83. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. Jack Henry & Associates has a twelve month low of $136.57 and a twelve month high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The company had revenue of $559.91 million during the quarter, compared to analysts’ expectations of $563.37 million. During the same period in the prior year, the business earned $1.34 earnings per share. Research analysts predict that Jack Henry & Associates will post 5.79 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is currently 42.47%.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.