Jack Henry & Associates, Inc. (JKHY) Lifted to “Hold” at Zacks Investment Research
Jack Henry & Associates, Inc. (NASDAQ:JKHY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States. A technology provider for the financial industry. That’s the simplest way to describe what they do. But it hardly describes what Jack Henry & Associates is really about. Jack Henry & Associates are about solutions and support. They’re about building relationships and making things work. The Company are about doing the right things for our customers, no matter what. It began as a vision, and it’s become our tradition. “
Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald began coverage on shares of Jack Henry & Associates in a research note on Monday, August 28th. They issued an “overweight” rating and a $112.00 target price on the stock. BidaskClub downgraded shares of Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $97.00 target price (up from $93.00) on shares of Jack Henry & Associates in a research note on Friday, August 18th.
Shares of Jack Henry & Associates (JKHY) traded down 0.27% during midday trading on Wednesday, hitting $101.74. 380,776 shares of the company traded hands. Jack Henry & Associates has a 52 week low of $79.00 and a 52 week high of $109.67. The stock has a market capitalization of $7.88 billion, a PE ratio of 32.40 and a beta of 0.75. The stock has a 50 day moving average of $103.11 and a 200-day moving average of $100.36.
Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, August 15th. The technology company reported $0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.83. The business had revenue of $383.77 million for the quarter, compared to the consensus estimate of $372.98 million. Jack Henry & Associates had a net margin of 17.17% and a return on equity of 24.65%. Jack Henry & Associates’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.06 earnings per share. Equities analysts forecast that Jack Henry & Associates will post $3.28 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. YorkBridge Wealth Partners LLC grew its position in Jack Henry & Associates by 4.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,088 shares of the technology company’s stock valued at $112,000 after acquiring an additional 45 shares during the last quarter. Acrospire Investment Management LLC bought a new position in Jack Henry & Associates during the second quarter valued at approximately $114,000. Parallel Advisors LLC grew its position in Jack Henry & Associates by 43.3% during the first quarter. Parallel Advisors LLC now owns 1,108 shares of the technology company’s stock valued at $108,000 after acquiring an additional 335 shares during the last quarter. IFP Advisors Inc grew its position in Jack Henry & Associates by 40.6% during the second quarter. IFP Advisors Inc now owns 1,312 shares of the technology company’s stock valued at $136,000 after acquiring an additional 379 shares during the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in Jack Henry & Associates during the first quarter valued at approximately $124,000. Institutional investors and hedge funds own 91.99% of the company’s stock.
Jack Henry & Associates Company Profile
Jack Henry & Associates, Inc is a provider of information processing solutions for community banks. The Company offers a range of products and services, including processing transactions, automating business processes, and managing information financial institutions and diverse corporate entities. It operates in two segments: bank systems and services (Bank) and credit union systems and services (Credit Union).
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