Jack Henry & Associates, Inc. (NASDAQ:JKHY) announced a quarterly dividend on Monday, February 11th, Zacks reports. Stockholders of record on Friday, March 1st will be paid a dividend of 0.40 per share by the technology company on Monday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, February 28th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.37.
Jack Henry & Associates has raised its dividend by an average of 14.0% per year over the last three years and has increased its dividend every year for the last 15 years. Jack Henry & Associates has a payout ratio of 36.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Jack Henry & Associates to earn $4.00 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 37.0%.
Shares of Jack Henry & Associates stock opened at $131.43 on Tuesday. Jack Henry & Associates has a 12-month low of $115.49 and a 12-month high of $163.68. The company has a market cap of $10.24 billion, a PE ratio of 36.61, a P/E/G ratio of 3.36 and a beta of 0.89.
Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. Jack Henry & Associates had a return on equity of 23.57% and a net margin of 19.57%. The company had revenue of $386.28 million for the quarter, compared to analysts’ expectations of $380.40 million. During the same quarter in the prior year, the business posted $2.08 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Jack Henry & Associates will post 3.58 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the company. BidaskClub cut Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Co upgraded Jack Henry & Associates from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $160.00 to $155.00 in a research note on Thursday, February 7th. Zacks Investment Research upgraded Jack Henry & Associates from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $163.00 price objective on shares of Jack Henry & Associates in a research note on Tuesday, February 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $152.75.
In related news, VP Mark S. Forbis sold 3,000 shares of the stock in a transaction on Monday, December 10th. The stock was sold at an average price of $134.91, for a total value of $404,730.00. Following the sale, the vice president now owns 5,038 shares in the company, valued at approximately $679,676.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.
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About Jack Henry & Associates
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
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