Jack Henry & Associates (NASDAQ:JKHY) Stock Rating Lowered by StockNews.com

Jack Henry & Associates (NASDAQ:JKHY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

JKHY has been the topic of a number of other reports. Royal Bank of Canada raised their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. UBS Group raised their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird raised their price objective on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, William Blair lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $188.73.

Jack Henry & Associates Stock Up 0.5 %

Shares of NASDAQ JKHY opened at $173.96 on Tuesday. The firm has a market cap of $12.69 billion, a PE ratio of 31.86, a P/E/G ratio of 3.25 and a beta of 0.63. Jack Henry & Associates has a 12-month low of $153.23 and a 12-month high of $189.63. The company’s fifty day simple moving average is $179.05 and its 200 day simple moving average is $171.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same period last year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Jack Henry & Associates will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the sale, the insider now owns 138,665 shares in the company, valued at approximately $23,756,087.80. This trade represents a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Jack Henry & Associates

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Jack Henry & Associates by 1.7% in the third quarter. State Street Corp now owns 3,976,658 shares of the technology company’s stock worth $702,039,000 after purchasing an additional 67,716 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Jack Henry & Associates by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company’s stock worth $657,158,000 after purchasing an additional 67,386 shares in the last quarter. Envestnet Asset Management Inc. increased 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 purchasing an additional 23,617 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Jack Henry & Associates by 8.4% in the third quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company’s stock worth $152,495,000 after purchasing an additional 66,600 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Jack Henry & Associates by 3.2% in the third quarter. Raymond James & Associates now owns 631,974 shares of the technology company’s stock worth $111,569,000 after purchasing an additional 19,846 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Company Profile

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.