Jack Henry & Associates (NASDAQ:JKHY) Upgraded to “Buy” at StockNews.com

Jack Henry & Associates (NASDAQ:JKHY) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Other analysts have also recently issued reports about the company. Oppenheimer began coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price target for the company. UBS Group lifted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised 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 report on Thursday, November 7th. Finally, Stephens reissued an “equal weight” rating and issued a $170.00 price objective on shares of Jack Henry & Associates in a report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Jack Henry & Associates currently has an average rating of “Hold” and a consensus price target of $188.73.

Jack Henry & Associates Stock Down 1.4 %

Shares of JKHY stock opened at $172.45 on Friday. Jack Henry & Associates has a 52-week low of $151.05 and a 52-week high of $189.63. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 3.34 and a beta of 0.63. The firm’s 50-day moving average is $179.40 and its 200-day moving average is $170.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.11.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The company had revenue of $600.98 million during the quarter, compared to analysts’ expectations of $599.56 million. During the same period last year, the firm posted $1.39 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Jack Henry & Associates will post 5.8 EPS for the current year.

Hedge Funds Weigh In On Jack Henry & Associates

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new stake in shares of Jack Henry & Associates during the second quarter worth about $25,000. Tortoise Investment Management LLC grew its holdings in Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after acquiring an additional 71 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in Jack Henry & Associates in the 1st quarter valued at approximately $30,000. Blue Trust Inc. raised its stake in shares of Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock valued at $39,000 after acquiring an additional 134 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Jack Henry & Associates during the third quarter worth $48,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Company Profile

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.