Jack Henry & Associates, Inc. (JKHY) Cut to Buy at BidaskClub
BidaskClub cut shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.
A number of other brokerages also recently issued reports on JKHY. Zacks Investment Research downgraded shares of Jack Henry & Associates from a buy rating to a hold rating in a report on Wednesday, July 12th. Stephens reissued an equal weight rating and issued a $97.00 price objective (up from $93.00) on shares of Jack Henry & Associates in a research note on Friday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $107.00.
Jack Henry & Associates (JKHY) opened at 99.30 on Friday. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 31.62 and a beta of 0.75. The company has a 50-day moving average of $104.96 and a 200 day moving average of $99.22. Jack Henry & Associates has a 12 month low of $79.00 and a 12 month high of $109.67.
Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, August 15th. The technology company reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83. The company had revenue of $383.77 million for the quarter, compared to the consensus estimate of $372.98 million. Jack Henry & Associates had a net margin of 17.17% and a return on equity of 24.65%. Jack Henry & Associates’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. On average, equities research analysts anticipate that Jack Henry & Associates will post $3.29 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.25%. Jack Henry & Associates’s payout ratio is currently 39.49%.
In other Jack Henry & Associates news, insider John F. Prim sold 9,650 shares of Jack Henry & Associates stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $103.89, for a total value of $1,002,538.50. Following the completion of the transaction, the insider now directly owns 206,164 shares of the company’s stock, valued at approximately $21,418,377.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wesley A. Brown sold 2,800 shares of Jack Henry & Associates stock in a transaction on Friday, May 26th. The stock was sold at an average price of $104.90, for a total transaction of $293,720.00. Following the completion of the transaction, the director now directly owns 80,278 shares of the company’s stock, valued at $8,421,162.20. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. YorkBridge Wealth Partners LLC boosted its position in shares of Jack Henry & Associates by 21.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,043 shares of the technology company’s stock worth $102,000 after buying an additional 185 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Jack Henry & Associates by 43.3% in the first quarter. Parallel Advisors LLC now owns 1,108 shares of the technology company’s stock worth $108,000 after buying an additional 335 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Jack Henry & Associates by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,225 shares of the technology company’s stock worth $114,000 after buying an additional 576 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Jack Henry & Associates during the second quarter worth approximately $114,000. Finally, Almanack Investment Partners LLC. acquired a new position in shares of Jack Henry & Associates during the first quarter worth approximately $124,000. 88.47% of the stock is owned by institutional investors and hedge funds.
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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