Jack Henry & Associates (NASDAQ:JKHY) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Jack Henry & Associates from a c+ rating to a b- rating in a research report on Friday, December 29th. Wolfe Research began coverage on shares of Jack Henry & Associates in a report on Thursday, March 7th. They set a peer perform rating for the company. Robert W. Baird boosted their price objective on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the company a neutral rating in a report on Wednesday, April 17th. Citigroup began coverage on shares of Jack Henry & Associates in a report on Thursday, January 18th. They set a neutral rating and a $177.00 price objective for the company. Finally, William Blair restated an outperform rating on shares of Jack Henry & Associates in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Jack Henry & Associates has a consensus rating of Hold and an average price target of $172.42.

Jack Henry & Associates Trading Down 0.5 %

Shares of NASDAQ JKHY opened at $164.84 on Friday. Jack Henry & Associates has a 1-year low of $136.57 and a 1-year high of $178.37. The company has a market cap of $12.01 billion, a PE ratio of 32.26, a P/E/G ratio of 3.88 and a beta of 0.66. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $171.14 and a two-hundred day moving average of $162.86.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Wednesday, February 7th. The technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The company had revenue of $545.70 million during the quarter, compared to the consensus estimate of $540.34 million. During the same period in the previous year, the firm posted $1.10 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. As a group, equities analysts expect that Jack Henry & Associates will post 5.11 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were issued a $0.55 dividend. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.52. This represents a $2.20 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, March 7th. Jack Henry & Associates’s payout ratio is currently 43.05%.

Hedge Funds Weigh In On Jack Henry & Associates

Institutional investors and hedge funds have recently modified their holdings of the business. NBC Securities Inc. acquired a new position in shares of Jack Henry & Associates in the third quarter valued at about $30,000. Planned Solutions Inc. acquired a new stake in Jack Henry & Associates during the fourth quarter worth about $33,000. Anchor Investment Management LLC bought a new position in Jack Henry & Associates in the 4th quarter valued at about $35,000. VisionPoint Advisory Group LLC bought a new position in Jack Henry & Associates in the 4th quarter valued at about $44,000. Finally, Riverview Trust Co bought a new position in Jack Henry & Associates in the 1st quarter valued at about $51,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

About Jack Henry & Associates

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.