Jack Henry & Associates (NASDAQ:JKHY) Price Target Increased to $186.00 by Analysts at Robert W. Baird

Jack Henry & Associates (NASDAQ:JKHY) had its target price increased by equities research analysts at Robert W. Baird from $180.00 to $186.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target indicates a potential upside of 12.88% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Wolfe Research began coverage on shares of Jack Henry & Associates in a research report on Thursday, March 7th. They set a “peer perform” rating on the stock. Royal Bank of Canada raised their target price on shares of Jack Henry & Associates from $161.00 to $181.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Citigroup assumed coverage on shares of Jack Henry & Associates in a report on Thursday, January 18th. They issued a “neutral” rating and a $177.00 target price on the stock. Finally, TheStreet raised shares of Jack Henry & Associates from a “c+” rating to a “b-” rating in a report on Friday, December 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $172.42.

Jack Henry & Associates Price Performance

NASDAQ:JKHY opened at $164.77 on Wednesday. Jack Henry & Associates has a 52 week low of $136.57 and a 52 week high of $178.37. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 3.84 and a beta of 0.66. The firm’s 50-day simple moving average is $171.57 and its 200 day simple moving average is $162.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.37 and a current ratio of 1.37.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $545.70 million for the quarter, compared to analyst estimates of $540.34 million. During the same period last year, the firm earned $1.10 earnings per share. Jack Henry & Associates’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Jack Henry & Associates will post 5.11 earnings per share for the current year.

Institutional Investors Weigh In On Jack Henry & Associates

Several hedge funds and other institutional investors have recently made changes to their positions in JKHY. Morgan Stanley grew its holdings in shares of Jack Henry & Associates by 117.1% during the 4th quarter. Morgan Stanley now owns 1,709,702 shares of the technology company’s stock valued at $300,155,000 after purchasing an additional 922,054 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Jack Henry & Associates by 24.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,640,497 shares of the technology company’s stock worth $548,696,000 after buying an additional 726,875 shares during the period. TD Asset Management Inc boosted its position in Jack Henry & Associates by 327.7% during the 4th quarter. TD Asset Management Inc now owns 544,781 shares of the technology company’s stock worth $89,023,000 after buying an additional 417,401 shares during the period. APG Asset Management US Inc. acquired a new stake in Jack Henry & Associates during the 4th quarter worth approximately $54,552,000. Finally, Assenagon Asset Management S.A. boosted its position in Jack Henry & Associates by 1,587.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 347,018 shares of the technology company’s stock worth $56,706,000 after buying an additional 326,448 shares during the period. 98.75% of the stock is owned by institutional investors.

About Jack Henry & Associates

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.