Jack Henry & Associates (NASDAQ:JKHY) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a sell rating to a neutral rating in a report issued on Wednesday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has $183.00 price objective on the technology company’s stock.

JKHY has been the subject of several other research reports. Wells Fargo & Company assumed coverage on Jack Henry & Associates in a report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price target for the company. Northcoast Research cut shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research report on Monday, March 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $186.45.

Jack Henry & Associates Stock Performance

NASDAQ:JKHY opened at $172.62 on Wednesday. The stock has a 50-day moving average price of $175.42 and a 200 day moving average price of $176.52. The stock has a market capitalization of $12.58 billion, a P/E ratio of 31.16, a P/E/G ratio of 3.36 and a beta of 0.65. Jack Henry & Associates has a 12-month low of $157.00 and a 12-month high of $196.00. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. Equities research analysts forecast that Jack Henry & Associates will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 6th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.34%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 6th. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 41.88%.

Institutional Trading of Jack Henry & Associates

A number of hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Jack Henry & Associates by 7.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock worth $316,326,000 after acquiring an additional 131,515 shares in the last quarter. Enterprise Financial Services Corp purchased a new position in Jack Henry & Associates in the fourth quarter valued at about $900,000. Andra AP fonden raised its holdings in Jack Henry & Associates by 10.7% in the fourth quarter. Andra AP fonden now owns 29,900 shares of the technology company’s stock worth $5,241,000 after purchasing an additional 2,900 shares in the last quarter. Nordea Investment Management AB raised its holdings in Jack Henry & Associates by 50.8% in the fourth quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock worth $136,720,000 after purchasing an additional 263,021 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY lifted its position in shares of Jack Henry & Associates by 21.4% during the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 121,782 shares of the technology company’s stock valued at $21,348,000 after buying an additional 21,466 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

About Jack Henry & Associates

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.