Jack Henry & Associates (NASDAQ:JKHY) Now Covered by Bank of America

Stock analysts at Bank of America assumed coverage on shares of Jack Henry & Associates (NASDAQ:JKHY) in a note issued to investors on Thursday. The brokerage set a “neutral” rating and a $165.00 price target on the technology company’s stock. Bank of America‘s price objective suggests a potential upside of 4.16% from the stock’s current price.

A number of other research firms also recently weighed in on JKHY. Raymond James Financial increased their target price on Jack Henry & Associates from $192.00 to $199.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $178.00 target price on shares of Jack Henry & Associates in a research report on Wednesday, September 30th. Seaport Research Partners began coverage on Jack Henry & Associates in a research note on Monday, September 28th. They set a “buy” rating and a $193.00 price target for the company. Morgan Stanley reduced their price target on shares of Jack Henry & Associates from $170.00 to $158.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 30th. Finally, DA Davidson reiterated a “buy” rating and issued a $198.00 price objective on shares of Jack Henry & Associates in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Jack Henry & Associates currently has an average rating of “Moderate Buy” and an average target price of $190.00.

Jack Henry & Associates Stock Performance

Shares of NASDAQ JKHY traded up $3.15 during midday trading on Thursday, hitting $158.41. 52,279 shares of the stock traded hands, compared to its average volume of 1,141,352. The firm has a 50-day moving average of $156.57 and a two-hundred day moving average of $148.83. The firm has a market capitalization of $11.11 billion, a P/E ratio of 22.68, a PEG ratio of 1.74 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 one year low of $121.04 and a one year high of $193.39.

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

Institutional Investors Weigh In On Jack Henry & Associates

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its position 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 purchasing an additional 1,243,526 shares in the last quarter. Janus Henderson Group PLC increased its position in Jack Henry & Associates by 13,343.0% in the first quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company’s stock worth $170,430,000 after buying an additional 1,070,376 shares in the last quarter. Dimensional Fund Advisors LP increased 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 buying an additional 86,810 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Jack Henry & Associates by 33.8% in the first quarter. First Trust Advisors LP now owns 734,298 shares of the technology company’s stock worth $116,048,000 after buying an additional 185,465 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in shares of Jack Henry & Associates by 82.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 681,587 shares of the technology company’s stock valued at $107,718,000 after buying an additional 307,886 shares in the last quarter. 98.75% of the stock is currently 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.