Jack Henry & Associates, Inc. (JKHY) Receives “Neutral” Rating from Robert W. Baird
Jack Henry & Associates, Inc. (NASDAQ:JKHY)‘s stock had its “neutral” rating restated by equities research analysts at Robert W. Baird in a note issued to investors on Tuesday. They currently have a $108.00 price target on the technology company’s stock, up from their prior price target of $104.00. Robert W. Baird’s target price suggests a potential upside of 2.54% from the company’s previous close.
Several other equities research analysts have also recently weighed in on JKHY. Zacks Investment Research cut Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Stephens reiterated an “equal weight” rating and set a $97.00 price target (up from $93.00) on shares of Jack Henry & Associates in a research report on Friday, August 18th. BidaskClub cut Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Finally, Cantor Fitzgerald initiated coverage on Jack Henry & Associates in a research report on Monday, August 28th. They set an “overweight” rating and a $112.00 price target on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $105.67.
Shares of Jack Henry & Associates (JKHY) traded up 0.01% during midday trading on Tuesday, reaching $105.32. 222,075 shares of the company’s stock were exchanged. The company has a market cap of $8.16 billion, a P/E ratio of 33.54 and a beta of 0.75. The firm has a 50 day moving average price of $102.02 and a 200 day moving average price of $101.40. Jack Henry & Associates has a 12 month low of $79.00 and a 12 month high of $109.67.
Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, August 15th. The technology company reported $0.83 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Jack Henry & Associates had a return on equity of 24.65% and a net margin of 17.17%. The firm had revenue of $383.77 million for the quarter, compared to analysts’ expectations of $372.98 million. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Jack Henry & Associates will post $3.28 earnings per share for the current fiscal year.
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In other news, insider Kevin D. Williams sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $101.63, for a total transaction of $2,032,600.00. Following the sale, the insider now directly owns 43,314 shares in the company, valued at $4,402,001.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Mark S. Forbis sold 2,600 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $101.16, for a total value of $263,016.00. Following the sale, the vice president now owns 1,696 shares in the company, valued at $171,567.36. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of JKHY. Parallel Advisors LLC grew its holdings in shares of Jack Henry & Associates by 43.3% during the first quarter. Parallel Advisors LLC now owns 1,108 shares of the technology company’s stock worth $108,000 after purchasing an additional 335 shares in the last quarter. YorkBridge Wealth Partners LLC grew its holdings in shares of 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 worth $112,000 after purchasing an additional 45 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Jack Henry & Associates during the second quarter worth about $114,000. Almanack Investment Partners LLC. purchased a new position in shares of Jack Henry & Associates during the first quarter worth about $124,000. Finally, IFP Advisors Inc grew 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 in the last quarter. 91.65% of the stock is owned by institutional investors.
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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