Jack Henry & Associates, Inc. (NASDAQ:JKHY) had its target price upped by equities researchers at Cantor Fitzgerald to $128.00 in a report issued on Thursday. The brokerage currently has an “overweight” rating on the technology company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 12.59% from the stock’s previous close.
A number of other research firms have also recently commented on JKHY. Zacks Investment Research cut shares of Jack Henry & Associates from a “hold” rating to a “sell” rating in a report on Tuesday, August 29th. Robert W. Baird restated a “neutral” rating and issued a $108.00 price target (up from $104.00) on shares of Jack Henry & Associates in a report on Tuesday, October 10th. Royal Bank of Canada restated a “hold” rating and issued a $96.00 price target on shares of Jack Henry & Associates in a report on Friday, October 20th. Stephens restated 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. Finally, BidaskClub cut shares of Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Jack Henry & Associates has a consensus rating of “Hold” and an average price target of $110.50.
Shares of Jack Henry & Associates (NASDAQ:JKHY) traded down $0.27 during trading hours on Thursday, reaching $113.69. 428,400 shares of the company traded hands, compared to its average volume of 383,391. The company has a market cap of $8,801.64, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77. Jack Henry & Associates has a fifty-two week low of $83.07 and a fifty-two week high of $115.34. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.10 and a current ratio of 0.53.
Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, August 15th. The technology company reported $0.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Jack Henry & Associates had a net margin of 17.08% and a return on equity of 23.92%. The firm had revenue of $383.77 million during the quarter, compared to the consensus estimate of $372.98 million. During the same quarter last year, the firm earned $1.06 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. equities analysts predict that Jack Henry & Associates will post 3.31 earnings per share for the current fiscal year.
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In other Jack Henry & Associates news, insider Kevin D. Williams sold 20,000 shares of Jack Henry & Associates stock in a transaction dated 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 sale, the insider now owns 43,314 shares of the company’s stock, valued at $4,402,001.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Mark S. Forbis sold 2,600 shares of Jack Henry & Associates stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $101.16, for a total transaction of $263,016.00. Following the completion of the sale, the vice president now directly owns 1,696 shares in the company, valued at approximately $171,567.36. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of JKHY. YorkBridge Wealth Partners LLC increased its holdings in Jack Henry & Associates by 4.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,088 shares of the technology company’s stock worth $112,000 after acquiring an additional 45 shares during the period. Acrospire Investment Management LLC bought a new stake in Jack Henry & Associates during the 2nd quarter worth approximately $114,000. Parallel Advisors LLC increased its holdings in Jack Henry & Associates by 9.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,216 shares of the technology company’s stock worth $131,000 after acquiring an additional 108 shares during the period. IFP Advisors Inc increased its holdings in Jack Henry & Associates by 40.6% during the 2nd quarter. IFP Advisors Inc now owns 1,312 shares of the technology company’s stock worth $136,000 after acquiring an additional 379 shares during the period. Finally, MPS Loria Financial Planners LLC bought a new stake in Jack Henry & Associates during the 2nd quarter worth approximately $145,000. 90.69% of the stock is currently owned by institutional investors.
About Jack Henry & Associates
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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