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 reaffirmed by Royal Bank Of Canada in a research note issued on Wednesday, Benzinga reports. They currently have a $178.00 target price on the technology company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 22.54% from the stock’s previous close.

JKHY has been the topic of several other research reports. Weiss Ratings raised shares of Jack Henry & Associates from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Piper Sandler upped their price target on shares of Jack Henry & Associates from $171.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, September 16th. UBS Group reaffirmed a “neutral” rating on shares of Jack Henry & Associates in a research note 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 on the stock. Finally, Oppenheimer boosted their target price on Jack Henry & Associates from $208.00 to $209.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.47.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock traded down $0.97 during midday trading on Wednesday, hitting $145.26. 178,133 shares of the company’s stock were exchanged, compared to its average volume of 1,163,681. The company has a market cap of $10.18 billion, a P/E ratio of 20.85, a PEG ratio of 1.68 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. The stock has a 50-day moving average price of $157.99 and a two-hundred day moving average price of $150.09. 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 data on Tuesday, August 18th. The technology company reported $1.57 earnings per share 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 business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $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 7.33 earnings per share for the current year.

Institutional Investors Weigh In On Jack Henry & Associates

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in 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 buying an additional 1,243,526 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Jack Henry & Associates by 13,343.0% during the 1st 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 raised its position in Jack Henry & Associates by 13.0% in the first quarter. Dimensional Fund Advisors LP now owns 752,025 shares of the technology company’s stock worth $118,842,000 after acquiring an additional 86,810 shares during the period. First Trust Advisors LP lifted its position in 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of Jack Henry & Associates in the fourth quarter worth $128,744,000. Institutional investors own 98.75% of the company’s stock.

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.