Zacks Investment Research lowered shares of Jack Henry & Associates Inc. (NASDAQ:JKHY) from a hold rating to a sell rating in a report released on Tuesday.

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 research firms also recently issued reports on JKHY. Oppenheimer Holdings Inc. downgraded Jack Henry & Associates from an outperform rating to a market perform rating in a research note on Wednesday, August 24th. They noted that the move was a valuation call. Citigroup Inc. downgraded Jack Henry & Associates from an outperform rating to a market perform rating in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of Hold and an average target price of $91.00.

Jack Henry & Associates (NASDAQ:JKHY) traded up 0.36% on Tuesday, hitting $81.59. 30,501 shares of the company traded hands. The firm’s 50 day moving average price is $86.36 and its 200 day moving average price is $85.49. Jack Henry & Associates has a 1-year low of $72.95 and a 1-year high of $89.89. The firm has a market capitalization of $6.41 billion, a PE ratio of 26.15 and a beta of 0.68.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, August 16th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.26. Jack Henry & Associates had a return on equity of 26.11% and a net margin of 18.37%. The business had revenue of $367 million for the quarter, compared to the consensus estimate of $355.40 million. During the same quarter in the previous year, the company posted $0.75 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that Jack Henry & Associates will post $3.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 27th. Shareholders of record on Wednesday, September 7th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, September 2nd. Jack Henry & Associates’s dividend payout ratio is 35.90%.

In other Jack Henry & Associates news, VP Mark S. Forbis sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $86.75, for a total value of $260,250.00. Following the completion of the sale, the vice president now directly owns 1,936 shares in the company, valued at approximately $167,948. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin D. Williams sold 31,802 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $86.14, for a total value of $2,739,424.28. Following the completion of the sale, the insider now owns 55,274 shares of the company’s stock, valued at $4,761,302.36. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Jack Henry & Associates by 2.4% in the first quarter. Geode Capital Management LLC now owns 550,682 shares of the company’s stock valued at $46,571,000 after buying an additional 12,989 shares in the last quarter. Dividend Assets Capital LLC boosted its stake in shares of Jack Henry & Associates by 0.4% in the second quarter. Dividend Assets Capital LLC now owns 458,210 shares of the company’s stock valued at $39,988,000 after buying an additional 2,046 shares in the last quarter. UMB Bank N A MO boosted its stake in shares of Jack Henry & Associates by 0.9% in the second quarter. UMB Bank N A MO now owns 17,821 shares of the company’s stock valued at $1,555,000 after buying an additional 159 shares in the last quarter. National Planning Corp boosted its stake in shares of Jack Henry & Associates by 0.3% in the first quarter. National Planning Corp now owns 3,485 shares of the company’s stock valued at $291,000 after buying an additional 12 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Jack Henry & Associates by 17.8% in the first quarter. LPL Financial LLC now owns 30,083 shares of the company’s stock valued at $2,515,000 after buying an additional 4,551 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

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).

5 Day Chart for NASDAQ:JKHY

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