Jack Henry & Associates (NASDAQ:JKHY) Downgraded to Neutral Rating by Northcoast Research

Northcoast Research lowered shares of Jack Henry & Associates (NASDAQ:JKHY) from a buy rating to a neutral rating in a report published on Monday, Marketbeat Ratings reports.

Several other equities research analysts also recently commented on JKHY. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Wells Fargo & Company began coverage on shares of Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 target price for the company. Finally, StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Jack Henry & Associates currently has a consensus rating of “Hold” and an average target price of $186.80.

Jack Henry & Associates Trading Down 2.0 %

JKHY opened at $173.14 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 3.36 and a beta of 0.65. The firm has a 50 day simple moving average of $173.74 and a 200 day simple moving average of $176.01. Jack Henry & Associates has a fifty-two week low of $157.00 and a fifty-two week high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. On average, sell-side analysts anticipate that Jack Henry & Associates will post 5.83 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Thursday, March 6th. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio is 41.88%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Jack Henry & Associates by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 8,811,373 shares of the technology company’s stock worth $1,544,634,000 after purchasing an additional 157,360 shares during the last quarter. State Street Corp boosted its holdings in Jack Henry & Associates by 1.7% during 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 during the last quarter. Invesco Ltd. boosted its holdings in Jack Henry & Associates by 29.9% during the fourth quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock worth $359,523,000 after purchasing an additional 471,507 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Jack Henry & Associates by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,990,506 shares of the technology company’s stock worth $349,796,000 after purchasing an additional 24,709 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Jack Henry & Associates by 7.9% during the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock worth $316,326,000 after purchasing an additional 131,515 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.