Jack Henry & Associates (NASDAQ:JKHY) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Jack Henry & Associates (NASDAQ:JKHY) from a buy rating to a hold rating in a research report report published on Monday.

Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods decreased their price objective on Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating for the company in a report on Thursday, May 8th. UBS Group decreased their price objective on Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Finally, The Goldman Sachs Group raised Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 price objective for the company in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Jack Henry & Associates currently has a consensus rating of “Hold” and a consensus price target of $185.11.

Jack Henry & Associates Stock Performance

Shares of JKHY stock opened at $180.53 on Monday. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 30.75 and a beta of 0.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36. The business has a fifty day moving average of $180.30 and a 200 day moving average of $176.28. Jack Henry & Associates has a 1 year low of $160.23 and a 1 year high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.23. The business had revenue of $585.09 million during the quarter, compared to analysts’ expectations of $585.84 million. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. As a group, research analysts expect that Jack Henry & Associates will post 5.83 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were paid a $0.58 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.32 annualized dividend and a dividend yield of 1.29%. Jack Henry & Associates’s dividend payout ratio is presently 39.52%.

Hedge Funds Weigh In On Jack Henry & Associates

A number of hedge funds have recently made changes to their positions in the company. Axxcess Wealth Management LLC raised its holdings in shares of Jack Henry & Associates by 2.3% during the first quarter. Axxcess Wealth Management LLC now owns 2,622 shares of the technology company’s stock valued at $479,000 after acquiring an additional 59 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Jack Henry & Associates by 2.1% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,115 shares of the technology company’s stock valued at $569,000 after acquiring an additional 64 shares during the last quarter. Strengthening Families & Communities LLC raised its holdings in shares of Jack Henry & Associates by 12.1% during the first quarter. Strengthening Families & Communities LLC now owns 632 shares of the technology company’s stock valued at $105,000 after acquiring an additional 68 shares during the last quarter. Phillips Wealth Planners LLC raised its holdings in shares of Jack Henry & Associates by 4.7% during the second quarter. Phillips Wealth Planners LLC now owns 1,611 shares of the technology company’s stock valued at $290,000 after acquiring an additional 73 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in shares of Jack Henry & Associates by 9.8% during the first quarter. AdvisorNet Financial Inc now owns 838 shares of the technology company’s stock valued at $153,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Company Profile

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.