Jack Henry & Associates (NASDAQ:JKHY) Research Coverage Started at Bank of America

Bank of America started coverage on shares of Jack Henry & Associates (NASDAQ:JKHY) in a report issued on Thursday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $165.00 price target on the technology company’s stock.

Other research analysts have also issued research reports about the stock. Wolfe Research increased 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. Morgan Stanley cut 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 note on Wednesday, September 30th. Stephens reaffirmed an “overweight” rating and set a $200.00 price objective on shares of Jack Henry & Associates in a report on Tuesday, August 11th. The Goldman Sachs Group upped their price objective on Jack Henry & Associates from $158.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. Finally, UBS Group reissued a “neutral” rating on shares of Jack Henry & Associates in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Jack Henry & Associates has a consensus rating of “Moderate Buy” and a consensus price target of $190.00.

Jack Henry & Associates Stock Performance

JKHY stock opened at $153.19 on Thursday. The stock has a market cap of $10.74 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.74 and a beta of 0.56. The firm has a 50 day simple moving average of $156.50 and a 200 day simple moving average of $148.88. Jack Henry & Associates has a 52 week low of $121.04 and a 52 week high of $193.39. 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 (NASDAQ:JKHY) last issued its quarterly earnings data on Tuesday, August 18th. The technology company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.13. The business had revenue of $633.10 million during 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%. Jack Henry & Associates’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 earnings per share. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. Research analysts anticipate that Jack Henry & Associates will post 7.32 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Monday, September 7th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.6%. Jack Henry & Associates’s payout ratio is currently 35.01%.

Institutional Investors Weigh In On Jack Henry & Associates

A number of institutional investors and hedge funds have recently made changes to their positions in JKHY. Dai ichi Life Insurance Company Ltd raised its holdings in Jack Henry & Associates by 231.1% during the first quarter. Dai ichi Life Insurance Company Ltd now owns 21,102 shares of the technology company’s stock worth $3,335,000 after acquiring an additional 14,728 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Jack Henry & Associates in the first quarter valued at approximately $3,569,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Jack Henry & Associates by 88.0% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 73,266 shares of the technology company’s stock valued at $11,579,000 after buying an additional 34,300 shares during the period. Morningstar Investment Management LLC grew its position in Jack Henry & Associates by 115.5% in the first quarter. Morningstar Investment Management LLC now owns 20,175 shares of the technology company’s stock valued at $3,188,000 after acquiring an additional 10,815 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in shares of Jack Henry & Associates by 82.4% during the first quarter. Epoch Investment Partners Inc. now owns 681,587 shares of the technology company’s stock worth $107,718,000 after buying an additional 307,886 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

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.