Jack Henry & Associates (NASDAQ:JKHY) Given “Buy” Rating at DA Davidson

Jack Henry & Associates (NASDAQ:JKHY)‘s stock had its “buy” rating reiterated by DA Davidson in a research report issued on Tuesday, Benzinga reports. They currently have a $198.00 price target on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 21.17% from the company’s current price.

Several other brokerages have also weighed in on JKHY. Royal Bank of Canada increased their target price on Jack Henry & Associates from $161.00 to $181.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. StockNews.com cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Wolfe Research assumed coverage on shares of Jack Henry & Associates in a research report on Thursday, March 7th. They issued a “peer perform” rating for the company. Evercore ISI boosted their price target on Jack Henry & Associates from $157.00 to $172.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. Finally, Robert W. Baird raised their target price on Jack Henry & Associates from $180.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $174.42.

Jack Henry & Associates Price Performance

JKHY traded down $2.71 during midday trading on Tuesday, reaching $163.41. 119,867 shares of the company’s stock were exchanged, compared to its average volume of 420,193. Jack Henry & Associates has a 1-year low of $136.57 and a 1-year high of $178.37. The stock has a market capitalization of $11.91 billion, a PE ratio of 31.97, a P/E/G ratio of 3.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50-day moving average price is $170.38 and its 200 day moving average price is $163.50.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $545.70 million during the quarter, compared to analysts’ expectations of $540.34 million. During the same period in the previous year, the company earned $1.10 EPS. Jack Henry & Associates’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts anticipate that Jack Henry & Associates will post 5.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of JKHY. Simplicity Solutions LLC increased its stake in shares of Jack Henry & Associates by 12.7% during the third quarter. Simplicity Solutions LLC now owns 6,005 shares of the technology company’s stock valued at $908,000 after acquiring an additional 676 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Jack Henry & Associates by 3.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,572 shares of the technology company’s stock worth $1,296,000 after buying an additional 249 shares in the last quarter. Xponance Inc. boosted its stake in Jack Henry & Associates by 3.1% during the third quarter. Xponance Inc. now owns 12,529 shares of the technology company’s stock valued at $1,894,000 after buying an additional 374 shares in the last quarter. Raymond James & Associates grew its holdings in Jack Henry & Associates by 1.5% during the third quarter. Raymond James & Associates now owns 568,901 shares of the technology company’s stock worth $85,984,000 after acquiring an additional 8,557 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Jack Henry & Associates by 0.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 41,501 shares of the technology company’s stock worth $6,273,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Company Profile

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.