According to Zacks, “Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States. A technology provider for the financial industry. That’s the simplest way to describe what they do. But it hardly describes what Jack Henry & Associates is really about. Jack Henry & Associates are about solutions and support. They’re about building relationships and making things work. The Company are about doing the right things for our customers, no matter what. It began as a vision, and it’s become our tradition. “
JKHY has been the topic of several other research reports. BidaskClub raised shares of Jack Henry & Associates from a buy rating to a strong-buy rating in a research note on Friday, August 30th. Atlantic Securities started coverage on shares of Jack Henry & Associates in a research note on Tuesday, September 3rd. They set a neutral rating and a $147.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $151.50.
Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, August 20th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Jack Henry & Associates had a net margin of 17.51% and a return on equity of 19.37%. The company had revenue of $393.50 million for the quarter, compared to analysts’ expectations of $390.70 million. During the same quarter in the previous year, the company posted $1.10 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Jack Henry & Associates will post 3.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, September 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. Jack Henry & Associates’s dividend payout ratio is presently 45.45%.
In other news, Director Wesley A. Brown sold 3,320 shares of Jack Henry & Associates stock in a transaction on Friday, June 21st. The stock was sold at an average price of $137.35, for a total transaction of $456,002.00. Following the transaction, the director now owns 90,931 shares in the company, valued at approximately $12,489,372.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark S. Forbis sold 501 shares of Jack Henry & Associates stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $137.58, for a total value of $68,927.58. Following the transaction, the insider now owns 797 shares in the company, valued at approximately $109,651.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,821 shares of company stock worth $1,213,430. Insiders own 0.84% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Jack Henry & Associates by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,284,839 shares of the technology company’s stock worth $1,243,426,000 after acquiring an additional 92,261 shares during the period. BlackRock Inc. raised its holdings in Jack Henry & Associates by 3.2% in the 2nd quarter. BlackRock Inc. now owns 7,898,053 shares of the technology company’s stock valued at $1,057,706,000 after buying an additional 247,051 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Jack Henry & Associates by 3.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,809,374 shares of the technology company’s stock valued at $242,314,000 after buying an additional 62,225 shares during the period. Bank of New York Mellon Corp raised its holdings in Jack Henry & Associates by 24.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,546,569 shares of the technology company’s stock valued at $207,116,000 after buying an additional 306,167 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Jack Henry & Associates by 40.0% in the 4th quarter. Geode Capital Management LLC now owns 1,395,069 shares of the technology company’s stock valued at $176,281,000 after buying an additional 398,777 shares during the period. Institutional investors and hedge funds own 90.86% of the company’s stock.
Jack Henry & Associates Company Profile
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
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