Jack Henry & Associates (NASDAQ:JKHY) Rating Lowered to “Hold” at StockNews.com

Jack Henry & Associates (NASDAQ:JKHY) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other analysts also recently weighed in on JKHY. Compass Point began coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target for the company. UBS Group upped their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped 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 report on Thursday, November 7th. Oppenheimer began coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price objective 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. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Jack Henry & Associates currently has an average rating of “Hold” and an average price target of $188.73.

Jack Henry & Associates Stock Performance

Shares of Jack Henry & Associates stock opened at $173.96 on Tuesday. The company has a 50 day moving average of $179.05 and a 200-day moving average of $171.38. Jack Henry & Associates has a 1-year low of $153.23 and a 1-year high of $189.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. The company has a market cap of $12.69 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 3.25 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $599.56 million. During the same quarter in the prior year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Jack Henry & Associates will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Jack Henry & Associates

In other news, insider David B. Foss sold 18,770 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the sale, the insider now directly owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. This represents a 11.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Jack Henry & Associates

Institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Jack Henry & Associates in the 3rd quarter valued at $26,000. Tortoise Investment Management LLC boosted its stake in shares of Jack Henry & Associates by 76.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after purchasing an additional 71 shares during the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Jack Henry & Associates in the 1st quarter valued at $30,000. Blue Trust Inc. boosted its stake in Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after acquiring an additional 134 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Jack Henry & Associates during the third quarter worth $48,000. 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.