Jack Henry & Associates, Inc. (JKHY) Expected to Post Quarterly Sales of $360.50 Million
Wall Street analysts expect that Jack Henry & Associates, Inc. (NASDAQ:JKHY) will report $360.50 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Jack Henry & Associates’ earnings, with the lowest sales estimate coming in at $358.10 million and the highest estimate coming in at $362.80 million. Jack Henry & Associates reported sales of $345.03 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The business is scheduled to issue its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that Jack Henry & Associates will report full year sales of $360.50 million for the current fiscal year, with estimates ranging from $1.50 billion to $1.51 billion. For the next financial year, analysts forecast that the company will post sales of $1.60 billion per share, with estimates ranging from $1.59 billion to $1.60 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Jack Henry & Associates.
Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, August 15th. The technology company reported $0.83 EPS for the quarter, hitting the consensus estimate of $0.83. Jack Henry & Associates had a net margin of 17.17% and a return on equity of 24.65%. The business had revenue of $383.77 million for the quarter, compared to analyst estimates of $372.98 million. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Jack Henry & Associates’s quarterly revenue was up 4.6% on a year-over-year basis.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Jack Henry & Associates from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Robert W. Baird reaffirmed a “hold” rating and issued a $104.00 price target on shares of Jack Henry & Associates in a report on Tuesday, September 19th. BidaskClub downgraded Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Cantor Fitzgerald assumed coverage on Jack Henry & Associates in a report on Monday, August 28th. They issued an “overweight” rating and a $112.00 price target for the company. Finally, Stephens reaffirmed an “equal weight” rating and issued a $97.00 price target (up from $93.00) on shares of Jack Henry & Associates in a report on Friday, August 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $104.33.
In other news, VP Mark S. Forbis sold 2,600 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $101.16, for a total value of $263,016.00. Following the completion of the sale, the vice president now directly owns 1,696 shares of the company’s stock, valued at $171,567.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin D. Williams sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $101.63, for a total value of $2,032,600.00. Following the completion of the sale, the insider now directly owns 43,314 shares of the company’s stock, valued at $4,402,001.82. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in shares of Jack Henry & Associates by 43.3% in 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 period. YorkBridge Wealth Partners LLC boosted its holdings in shares of Jack Henry & Associates by 4.3% in 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 period. Acrospire Investment Management LLC acquired a new stake in shares of Jack Henry & Associates during the second quarter worth $114,000. Almanack Investment Partners LLC. acquired a new stake in shares of Jack Henry & Associates during the first quarter worth $124,000. Finally, IFP Advisors Inc lifted its holdings in shares of Jack Henry & Associates by 40.6% during the second quarter. IFP Advisors Inc now owns 1,312 shares of the technology company’s stock worth $136,000 after purchasing an additional 379 shares during the period. 91.66% of the stock is owned by institutional investors and hedge funds.
Shares of Jack Henry & Associates (NASDAQ JKHY) opened at 103.92 on Thursday. The company’s 50-day moving average is $101.60 and its 200 day moving average is $101.12. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 33.10 and a beta of 0.75. Jack Henry & Associates has a 1-year low of $79.00 and a 1-year high of $109.67.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Friday, September 8th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, September 7th. Jack Henry & Associates’s payout ratio is currently 39.49%.
ILLEGAL ACTIVITY WARNING: “Jack Henry & Associates, Inc. (JKHY) Expected to Post Quarterly Sales of $360.50 Million” was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2017/10/05/jack-henry-associates-inc-jkhy-expected-to-post-quarterly-sales-of-360-50-million.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Jack Henry & Associates Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack Henry & Associates Inc. and related companies with MarketBeat.com's FREE daily email newsletter.