Jack Henry & Associates (NASDAQ:JKHY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, February 6th. The firm currently has a $138.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 18.66% from the company’s current price.
According to Zacks, “Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States. A technology provider for the financial industry. That’s the simplest way to describe what they do. But it hardly describes what Jack Henry & Associates is really about. Jack Henry & Associates are about solutions and support. They’re about building relationships and making things work. The Company are about doing the right things for our customers, no matter what. It began as a vision, and it’s become our tradition. “
Several other analysts also recently commented on JKHY. Royal Bank of Canada restated a “sector perform” rating and issued a $103.00 target price (up from $96.00) on shares of Jack Henry & Associates in a research note on Thursday, November 9th. Oppenheimer restated a “hold” rating on shares of Jack Henry & Associates in a research note on Thursday, January 18th. Robert W. Baird restated a “neutral” rating and issued a $108.00 target price (up from $104.00) on shares of Jack Henry & Associates in a research note on Tuesday, October 10th. Cantor Fitzgerald raised their target price on Jack Henry & Associates to $128.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. Finally, DA Davidson started coverage on shares of Jack Henry & Associates in a research report on Monday, January 22nd. They issued a “neutral” rating and a $118.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $122.17.
Jack Henry & Associates (JKHY) opened at $116.30 on Tuesday. The company has a market capitalization of $8,910.57, a price-to-earnings ratio of 26.25, a PEG ratio of 3.09 and a beta of 0.78. Jack Henry & Associates has a 12 month low of $90.80 and a 12 month high of $127.31. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.
Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.80 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.80. Jack Henry & Associates had a return on equity of 23.11% and a net margin of 23.35%. The business had revenue of $374.80 million during the quarter, compared to the consensus estimate of $368.84 million. During the same period in the prior year, the business posted $0.75 earnings per share. Jack Henry & Associates’s quarterly revenue was up 7.5% on a year-over-year basis. sell-side analysts predict that Jack Henry & Associates will post 3.39 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of JKHY. State Street Corp grew its stake in Jack Henry & Associates by 28.7% in the 2nd quarter. State Street Corp now owns 2,673,266 shares of the technology company’s stock valued at $277,675,000 after buying an additional 596,227 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Jack Henry & Associates by 228.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 337,226 shares of the technology company’s stock valued at $39,442,000 after buying an additional 234,583 shares in the last quarter. Koch Industries Inc. purchased a new position in Jack Henry & Associates in the 2nd quarter valued at approximately $203,000. BlackRock Inc. grew its stake in Jack Henry & Associates by 1.9% in the 4th quarter. BlackRock Inc. now owns 8,713,051 shares of the technology company’s stock valued at $1,019,079,000 after buying an additional 164,542 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Jack Henry & Associates by 72.3% in the 4th quarter. Schroder Investment Management Group now owns 212,490 shares of the technology company’s stock valued at $24,853,000 after buying an additional 89,200 shares in the last quarter. 89.09% of the stock is currently owned by institutional investors.
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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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