Jack Henry & Associates (NASDAQ:JKHY) Stock Rating Reaffirmed as “Outperform” by Royal Bank Of Canada

Jack Henry & Associates (NASDAQ:JKHY)‘s stock had its “outperform” rating restated by Royal Bank Of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $178.00 price target on the technology company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 24.45% from the company’s current price.

Several other research firms have also issued reports on JKHY. Stephens reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Jack Henry & Associates in a research report on Tuesday, August 11th. UBS Group reiterated a “neutral” rating on shares of Jack Henry & Associates in a report on Wednesday, September 16th. Piper Sandler lifted their price objective on Jack Henry & Associates from $171.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, September 16th. Seaport Research Partners assumed coverage on Jack Henry & Associates in a report on Monday. They issued a “buy” rating and a $193.00 price objective for the company. Finally, Wolfe Research lifted their price objective on Jack Henry & Associates from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. One investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.47.

Jack Henry & Associates Stock Down 0.6%

Shares of JKHY traded down $0.81 during trading hours on Wednesday, hitting $143.03. The company had a trading volume of 191,512 shares, compared to its average volume of 1,161,493. The firm has a fifty day moving average price of $157.84 and a 200-day moving average price of $149.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.63 and a beta of 0.56. Jack Henry & Associates has a 52-week low of $121.04 and a 52-week high of $193.39.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, August 18th. The technology company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.13. The firm had revenue of $633.10 million during the quarter, compared to analyst estimates of $631.60 million. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.Jack Henry & Associates’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 EPS. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. On average, equities research analysts forecast that Jack Henry & Associates will post 7.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its position in shares of Jack Henry & Associates by 70.0% during the 3rd quarter. Versant Capital Management Inc now owns 590 shares of the technology company’s stock valued at $85,000 after acquiring an additional 243 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Jack Henry & Associates by 7.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,759 shares of the technology company’s stock valued at $518,000 after acquiring an additional 252 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Jack Henry & Associates by 10.5% during the 2nd quarter. Tidal Investments LLC now owns 33,060 shares of the technology company’s stock valued at $4,554,000 after acquiring an additional 3,148 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Jack Henry & Associates during the 2nd quarter valued at approximately $5,685,000. Finally, IFP Advisors Inc boosted its position in shares of Jack Henry & Associates by 182.7% during the 2nd quarter. IFP Advisors Inc now owns 3,958 shares of the technology company’s stock valued at $545,000 after acquiring an additional 2,558 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

About Jack Henry & Associates

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.