Jack Henry & Associates (NASDAQ:JKHY) Rating Lowered to Hold at StockNews.com

Jack Henry & Associates (NASDAQ:JKHY) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

JKHY has been the topic of several other research reports. Robert W. Baird lifted their price objective on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. William Blair lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Oppenheimer started coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price objective for the company. Compass Point began coverage on Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $188.73.

Jack Henry & Associates Price Performance

Shares of Jack Henry & Associates stock traded up $0.71 during trading on Tuesday, reaching $173.10. The company’s stock had a trading volume of 592,350 shares, compared to its average volume of 459,076. The stock has a 50-day moving average price of $179.11 and a two-hundred day moving average price of $171.33. The stock has a market capitalization of $12.63 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 3.25 and a beta of 0.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates has a one year low of $153.05 and a one year high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.61 by $0.02. The company had revenue of $600.98 million during the quarter, compared to analysts’ expectations of $599.56 million. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. As a group, sell-side analysts anticipate that Jack Henry & Associates will post 5.8 EPS for the current fiscal year.

Insider Activity

In other news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the sale, the insider now owns 138,665 shares in the company, valued at approximately $23,756,087.80. This trade represents a 11.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in Jack Henry & Associates during the third quarter worth about $26,000. Tortoise Investment Management LLC increased its stake in shares of Jack Henry & Associates by 76.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after purchasing an additional 71 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Jack Henry & Associates during the 1st quarter worth $30,000. Blue Trust Inc. raised its holdings in shares of Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after buying an additional 134 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Jack Henry & Associates during the 3rd quarter worth $48,000. 98.75% of the stock is owned by institutional investors.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.