Zacks Investment Research upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a hold rating to a buy rating in a research report report published on Wednesday. They currently have $134.00 target price on the technology company’s stock.
According to Zacks, “Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States. A technology provider for the financial industry. That’s the simplest way to describe what they do. But it hardly describes what Jack Henry & Associates is really about. Jack Henry & Associates are about solutions and support. They’re about building relationships and making things work. The Company are about doing the right things for our customers, no matter what. It began as a vision, and it’s become our tradition. “
Other analysts have also recently issued reports about the stock. Cantor Fitzgerald reaffirmed a buy rating and issued a $112.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 8th. Robert W. Baird reaffirmed a hold rating and issued a $114.00 target price on shares of Jack Henry & Associates in a research note on Friday, November 10th. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $96.00 target price on shares of Jack Henry & Associates in a research note on Friday, October 20th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Jack Henry & Associates presently has a consensus rating of Hold and an average price target of $115.20.
Jack Henry & Associates (NASDAQ JKHY) traded up $0.70 during mid-day trading on Wednesday, reaching $123.38. 261,054 shares of the company’s stock traded hands, compared to its average volume of 213,156. The stock has a market cap of $9,529.13, a PE ratio of 39.67, a P/E/G ratio of 3.25 and a beta of 0.77. Jack Henry & Associates has a 12-month low of $88.11 and a 12-month high of $123.56.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a $0.31 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.01%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 39.12%.
Several institutional investors and hedge funds have recently made changes to their positions in the business. KAMES CAPITAL plc boosted its holdings in shares of Jack Henry & Associates by 58.9% in the 4th quarter. KAMES CAPITAL plc now owns 68,838 shares of the technology company’s stock valued at $8,051,000 after purchasing an additional 25,507 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Jack Henry & Associates in the 3rd quarter valued at $484,000. Visionary Asset Management Inc. acquired a new position in shares of Jack Henry & Associates in the 3rd quarter valued at $214,000. GSA Capital Partners LLP acquired a new position in shares of Jack Henry & Associates in the 3rd quarter valued at $293,000. Finally, Fieldpoint Private Securities LLC acquired a new position in shares of Jack Henry & Associates in the 3rd quarter valued at $237,000. Institutional investors own 88.98% of the company’s stock.
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About Jack Henry & Associates
Jack Henry & Associates, Inc is a provider of information processing solutions for community banks. The Company offers a range of products and services, including processing transactions, automating business processes, and managing information financial institutions and diverse corporate entities. It operates in two segments: bank systems and services (Bank) and credit union systems and services (Credit Union).
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