Jack Henry & Associates (NASDAQ:JKHY) Earns “Outperform” Rating from Royal Bank Of Canada

Jack Henry & Associates (NASDAQ:JKHY)‘s stock had its “outperform” rating reaffirmed by Royal Bank Of Canada in a report issued on Wednesday, Benzinga reports. They currently have a $178.00 target price on the technology company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 23.36% from the stock’s current price.

JKHY has been the topic of several other research reports. Wolfe Research boosted their price target on shares of Jack Henry & Associates from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. DA Davidson restated a “buy” rating and issued a $198.00 price target on shares of Jack Henry & Associates in a research report on Wednesday, September 2nd. Raymond James Financial boosted their price target on shares of Jack Henry & Associates from $192.00 to $199.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 16th. The Goldman Sachs Group boosted their price target on shares of Jack Henry & Associates from $158.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Finally, Barclays boosted their price target on shares of Jack Henry & Associates from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.47.

Jack Henry & Associates Price Performance

Shares of Jack Henry & Associates stock traded up $1.75 on Wednesday, hitting $144.29. 299,971 shares of the company traded hands, compared to its average volume of 1,159,645. The stock has a market capitalization of $10.12 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.17 and a current ratio of 1.17. Jack Henry & Associates has a 52 week low of $121.04 and a 52 week high of $193.39. The business has a 50-day simple moving average of $157.68 and a 200 day simple moving average of $149.58.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, August 18th. The technology company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.13. The firm had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $631.60 million. Jack Henry & Associates had a net margin of 19.76% and a return on equity of 23.49%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 earnings per share. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. Research analysts expect that Jack Henry & Associates will post 7.31 earnings per share for the current fiscal year.

Institutional Trading of Jack Henry & Associates

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of Jack Henry & Associates by 1,918.2% during the second quarter. Van ECK Associates Corp now owns 1,308,353 shares of the technology company’s stock valued at $180,213,000 after purchasing an additional 1,243,526 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Jack Henry & Associates by 13,343.0% during the first quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company’s stock valued at $170,430,000 after purchasing an additional 1,070,376 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Jack Henry & Associates by 13.0% during the first quarter. Dimensional Fund Advisors LP now owns 752,025 shares of the technology company’s stock valued at $118,842,000 after purchasing an additional 86,810 shares during the period. First Trust Advisors LP boosted its stake in shares of Jack Henry & Associates by 33.8% during the first quarter. First Trust Advisors LP now owns 734,298 shares of the technology company’s stock valued at $116,048,000 after purchasing an additional 185,465 shares during the period. Finally, Norges Bank purchased a new stake in shares of Jack Henry & Associates during the fourth quarter valued at $128,744,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company that provides software, payment processing and related services to banks, credit unions and other financial institutions. Founded in 1976 and headquartered in Monett, Missouri, the company serves primarily U.S.-based community and regional financial institutions.

The company offers core processing platforms for banks and credit unions, including Jack Henry Banking and Symitar solutions. Its products and services support account processing, lending, deposit operations, financial reporting, digital banking, mobile banking and customer relationship management.

Jack Henry also provides payment processing, card services, electronic funds transfer capabilities, online account opening, cybersecurity, document and information management, business intelligence and other technology services.