Jack Henry & Associates (NASDAQ:JKHY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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 weighed in on JKHY. Cantor Fitzgerald reaffirmed a “buy” rating and set a $163.00 price objective on shares of Jack Henry & Associates in a report on Tuesday, February 5th. Raymond James began coverage on Jack Henry & Associates in a report on Wednesday, February 20th. They set a “market perform” rating on the stock. Wells Fargo & Co raised Jack Henry & Associates from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $160.00 to $155.00 in a report on Thursday, February 7th. Finally, BidaskClub cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $152.75.

NASDAQ JKHY opened at $135.84 on Wednesday. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 37.84, a P/E/G ratio of 3.42 and a beta of 0.87. Jack Henry & Associates has a 1-year low of $116.79 and a 1-year high of $163.68.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. The company had revenue of $386.28 million for the quarter, compared to the consensus estimate of $380.40 million. Jack Henry & Associates had a return on equity of 23.57% and a net margin of 19.57%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 earnings per share. Equities research analysts predict that Jack Henry & Associates will post 3.57 EPS for the current fiscal year.

In other news, VP Ronald L. Moses sold 750 shares of Jack Henry & Associates stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $134.20, for a total value of $100,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stacey E. Zengel sold 4,388 shares of Jack Henry & Associates stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $133.50, for a total transaction of $585,798.00. Following the completion of the transaction, the vice president now owns 4,453 shares of the company’s stock, valued at approximately $594,475.50. The disclosure for this sale can be found here. Insiders sold 12,713 shares of company stock valued at $1,685,666 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of JKHY. BlackRock Inc. raised its position in Jack Henry & Associates by 1.8% in the 3rd quarter. BlackRock Inc. now owns 9,157,589 shares of the technology company’s stock worth $1,465,948,000 after purchasing an additional 163,238 shares during the last quarter. Vanguard Group Inc raised its position in Jack Henry & Associates by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 7,854,780 shares of the technology company’s stock worth $1,257,394,000 after purchasing an additional 60,151 shares during the last quarter. Capital World Investors raised its position in Jack Henry & Associates by 35.2% in the 3rd quarter. Capital World Investors now owns 6,876,882 shares of the technology company’s stock worth $1,100,851,000 after purchasing an additional 1,790,330 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Jack Henry & Associates by 9,075.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,617,727 shares of the technology company’s stock worth $36,000 after purchasing an additional 4,567,400 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Jack Henry & Associates by 40.0% in the 4th quarter. Geode Capital Management LLC now owns 1,395,069 shares of the technology company’s stock worth $176,281,000 after purchasing an additional 398,777 shares during the last quarter. Institutional investors own 89.34% of the company’s stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.

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