Jack Henry & Associates (NASDAQ:JKHY) Downgraded to Buy at BidaskClub
Several other brokerages have also recently issued reports on JKHY. Zacks Investment Research upgraded shares of Jack Henry & Associates from a sell rating to a hold rating in a report on Thursday. Atlantic Securities initiated coverage on shares of Jack Henry & Associates in a report on Tuesday, September 3rd. They issued a neutral rating and a $147.00 target price for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $151.50.
Shares of Jack Henry & Associates stock traded down $1.17 during trading hours on Thursday, hitting $145.21. The company had a trading volume of 246,030 shares, compared to its average volume of 431,859. The company’s 50-day moving average is $141.53 and its two-hundred day moving average is $138.51. Jack Henry & Associates has a twelve month low of $120.20 and a twelve month high of $163.68. The company has a market cap of $11.29 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.92.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is currently 45.45%.
In related news, insider Mark S. Forbis sold 501 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $137.58, for a total transaction of $68,927.58. Following the completion of the sale, the insider now owns 797 shares in the company, valued at approximately $109,651.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wesley A. Brown sold 3,320 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $137.35, for a total transaction of $456,002.00. Following the sale, the director now owns 90,931 shares of the company’s stock, valued at approximately $12,489,372.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,821 shares of company stock valued at $1,213,430. 0.84% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC increased its holdings in Jack Henry & Associates by 38.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 258 shares of the technology company’s stock valued at $34,000 after acquiring an additional 72 shares in the last quarter. TrinityPoint Wealth LLC increased its holdings in Jack Henry & Associates by 4.3% during the 2nd quarter. TrinityPoint Wealth LLC now owns 1,888 shares of the technology company’s stock valued at $258,000 after acquiring an additional 77 shares in the last quarter. Advisory Services Network LLC increased its holdings in Jack Henry & Associates by 33.2% during the 1st quarter. Advisory Services Network LLC now owns 329 shares of the technology company’s stock valued at $45,000 after acquiring an additional 82 shares in the last quarter. Unigestion Holding SA increased its holdings in Jack Henry & Associates by 0.8% during the 2nd quarter. Unigestion Holding SA now owns 10,166 shares of the technology company’s stock valued at $1,361,000 after acquiring an additional 84 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. increased its holdings in Jack Henry & Associates by 1.5% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,810 shares of the technology company’s stock valued at $945,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 90.86% 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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