Research analysts at Wells Fargo & Company started coverage on shares of Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set an “underweight” rating and a $155.00 price target on the technology company’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 9.87% from the company’s previous close.
Several other equities research analysts have also weighed in on the company. William Blair lowered Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Stephens reaffirmed an “equal weight” rating and issued a $170.00 target price on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods increased their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Finally, UBS Group raised their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $185.91.
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Jack Henry & Associates Stock Performance
Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The company had revenue of $600.98 million for the quarter, compared to analysts’ expectations of $599.56 million. During the same quarter in the previous year, the company earned $1.39 earnings per share. Jack Henry & Associates’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts predict that Jack Henry & Associates will post 5.8 EPS for the current year.
Insider Buying and Selling
In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the sale, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. This trade represents a 11.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.37% of the stock is owned by company insiders.
Institutional Investors Weigh In On Jack Henry & Associates
Several institutional investors have recently modified their holdings of JKHY. Nordea Investment Management AB raised its position in Jack Henry & Associates by 50.8% in the 4th quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock worth $136,720,000 after buying an additional 263,021 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Jack Henry & Associates by 51.4% during the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after purchasing an additional 171,041 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Jack Henry & Associates by 7.9% during the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after purchasing an additional 131,515 shares during the period. Benjamin Edwards Inc. boosted its holdings in Jack Henry & Associates by 2,032.2% in the third quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock worth $22,540,000 after purchasing an additional 121,667 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Jack Henry & Associates by 80.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 207,757 shares of the technology company’s stock worth $36,677,000 after purchasing an additional 92,359 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.
Jack Henry & Associates Company Profile
Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.
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