Jack Henry & Associates’ (JKHY) Equal Weight Rating Reaffirmed at Stephens

Jack Henry & Associates (NASDAQ:JKHY)‘s stock had its “equal weight” rating reiterated by stock analysts at Stephens in a research report issued on Wednesday, Benzinga reports. They currently have a $170.00 price objective on the technology company’s stock. Stephens’ price objective suggests a potential downside of 6.60% from the stock’s previous close.

JKHY has been the topic of a number of other reports. Keefe, Bruyette & Woods lifted their target price on Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday, August 22nd. Robert W. Baird lifted their target price on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $181.00 price target on shares of Jack Henry & Associates in a research note on Friday, September 6th. StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Oppenheimer initiated coverage on Jack Henry & Associates in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Jack Henry & Associates has an average rating of “Hold” and an average target price of $185.40.

Jack Henry & Associates Stock Down 1.9 %

NASDAQ:JKHY traded down $3.51 during mid-day trading on Wednesday, hitting $182.01. The company had a trading volume of 791,866 shares, compared to its average volume of 441,099. The business has a fifty day simple moving average of $178.83 and a 200-day simple moving average of $170.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. Jack Henry & Associates has a 1 year low of $142.93 and a 1 year high of $189.63. The firm has a market capitalization of $13.27 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 3.36 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The company had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same period last year, the company posted $1.39 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that Jack Henry & Associates will post 5.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jack Henry & Associates

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its position in shares of Jack Henry & Associates by 2.8% during the third quarter. CIBC Asset Management Inc now owns 10,655 shares of the technology company’s stock worth $1,881,000 after buying an additional 295 shares during the period. Zions Bancorporation N.A. boosted its position in shares of Jack Henry & Associates by 17.1% during the third quarter. Zions Bancorporation N.A. now owns 8,668 shares of the technology company’s stock worth $1,530,000 after buying an additional 1,265 shares during the period. Huntington National Bank boosted its position in shares of Jack Henry & Associates by 20.9% during the third quarter. Huntington National Bank now owns 451 shares of the technology company’s stock worth $80,000 after buying an additional 78 shares during the period. Victory Capital Management Inc. boosted its position in shares of Jack Henry & Associates by 4.9% during the third quarter. Victory Capital Management Inc. now owns 70,850 shares of the technology company’s stock worth $12,508,000 after buying an additional 3,314 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of Jack Henry & Associates during the third quarter worth approximately $1,017,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.