Jack Henry & Associates (NASDAQ:JKHY) Given New $190.00 Price Target at UBS Group

by · The Markets Daily

Jack Henry & Associates (NASDAQ:JKHY – Free Report) had its price objective upped by UBS Group from $180.00 to $190.00 in a research note issued to investors on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the technology company’s stock.

A number of other research analysts have also weighed in on the company. Robert W. Baird raised their target price on Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Stephens restated an “equal weight” rating and issued a $170.00 target price on shares of Jack Henry & Associates in a report on Wednesday. Keefe, Bruyette & Woods raised their target price on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, August 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $181.00 target price on shares of Jack Henry & Associates in a report on Friday, September 6th. Finally, StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $188.73.

Check Out Our Latest Research Report on Jack Henry & Associates

Jack Henry & Associates Trading Up 0.9 %

NASDAQ JKHY traded up $1.60 during trading hours on Thursday, hitting $181.57. 235,216 shares of the company’s stock were exchanged, compared to its average volume of 444,567. The stock has a 50-day simple moving average of $179.13 and a 200 day simple moving average of $170.51. Jack Henry & Associates has a 1-year low of $146.46 and a 1-year high of $189.63. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 3.38 and a beta of 0.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.02. The business had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. On average, equities analysts forecast that Jack Henry & Associates will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Friday, September 6th. Jack Henry & Associates’s payout ratio is 42.15%.

Hedge Funds Weigh In On Jack Henry & Associates

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Jack Henry & Associates by 188.4% during the 2nd quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock valued at $46,819,000 after acquiring an additional 184,210 shares during the period. Mackenzie Financial Corp raised its position in Jack Henry & Associates by 51.4% during the 2nd quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after purchasing an additional 171,041 shares during the last quarter. TD Asset Management Inc raised its position in Jack Henry & Associates by 25.6% during the 1st quarter. TD Asset Management Inc now owns 684,363 shares of the technology company’s stock valued at $118,894,000 after purchasing an additional 139,582 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Jack Henry & Associates by 6,680.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock valued at $19,158,000 after purchasing an additional 113,696 shares during the last quarter. Finally, Tandem Investment Advisors Inc. raised its position in Jack Henry & Associates by 20.4% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock valued at $83,496,000 after purchasing an additional 85,175 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

About Jack Henry & Associates

(Get Free Report)

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.

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