Zacks Investment Research lowered shares of Jack Henry & Associates (NASDAQ:JKHY) from a buy rating to a hold rating in a research note issued to investors on Saturday, February 3rd.
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. “
A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada reissued a sector perform rating and issued a $103.00 price target (up previously from $96.00) on shares of Jack Henry & Associates in a report on Thursday, November 9th. Robert W. Baird reissued a neutral rating and issued a $108.00 price target (up previously from $104.00) on shares of Jack Henry & Associates in a report on Tuesday, October 10th. Cantor Fitzgerald lifted their target price on shares of Jack Henry & Associates to $128.00 and gave the company an overweight rating in a research note on Thursday, November 9th. Oppenheimer reaffirmed a hold rating on shares of Jack Henry & Associates in a research note on Thursday, January 18th. Finally, DA Davidson started coverage on shares of Jack Henry & Associates in a research note on Monday, January 22nd. They set a neutral rating and a $118.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $122.17.
Jack Henry & Associates (NASDAQ JKHY) traded up $0.96 during trading on Friday, hitting $115.33. 655,013 shares of the stock traded hands, compared to its average volume of 363,102. The stock has a market cap of $8,910.63, a PE ratio of 36.50, a P/E/G ratio of 3.10 and a beta of 0.78. Jack Henry & Associates has a 12-month low of $90.25 and a 12-month high of $127.31.
Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, February 6th. The technology company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $374.80 million for the quarter, compared to analysts’ expectations of $368.84 million. Jack Henry & Associates had a net margin of 23.35% and a return on equity of 23.11%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. equities research analysts forecast that Jack Henry & Associates will post 3.39 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. MPS Loria Financial Planners LLC purchased a new position in shares of Jack Henry & Associates during the second quarter valued at approximately $145,000. Cerebellum GP LLC purchased a new position in shares of Jack Henry & Associates during the fourth quarter valued at approximately $165,000. Advisory Services Network LLC raised its holdings in shares of Jack Henry & Associates by 1,238.8% during the fourth quarter. Advisory Services Network LLC now owns 1,620 shares of the technology company’s stock valued at $189,000 after purchasing an additional 1,499 shares during the last quarter. Allegis Investment Advisors LLC purchased a new position in shares of Jack Henry & Associates during the fourth quarter valued at approximately $200,000. Finally, Wesbanco Bank Inc. purchased a new stake in Jack Henry & Associates during the fourth quarter valued at approximately $215,000. 89.10% of the stock is owned by institutional investors and hedge funds.
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Jack Henry & Associates Company Profile
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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