Jack Henry & Associates (NASDAQ:JKHY) posted its quarterly earnings results on Tuesday. The technology company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.15, Briefing.com reports. The company had revenue of $392.54 million for the quarter, compared to the consensus estimate of $385.12 million. Jack Henry & Associates had a net margin of 24.51% and a return on equity of 23.72%. Jack Henry & Associates’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share.
Shares of JKHY stock traded down $4.09 during mid-day trading on Wednesday, reaching $146.65. The company’s stock had a trading volume of 734,683 shares, compared to its average volume of 382,394. Jack Henry & Associates has a 12-month low of $111.37 and a 12-month high of $163.68. The company has a market cap of $11.53 billion, a PE ratio of 40.85, a P/E/G ratio of 3.37 and a beta of 0.93.
A number of research firms have weighed in on JKHY. Zacks Investment Research downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. Cantor Fitzgerald increased their price target on shares of Jack Henry & Associates from $141.00 to $169.00 and gave the stock an “overweight” rating in a research note on Thursday, August 23rd. Wells Fargo & Co raised their target price on shares of Jack Henry & Associates from $110.00 to $160.00 and gave the company a “market perform” rating in a research note on Thursday, August 23rd. ValuEngine raised shares of Jack Henry & Associates from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 24th. Finally, BidaskClub raised shares of Jack Henry & Associates from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 10th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $137.29.
In other news, Director John F. Prim sold 6,329 shares of the firm’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $157.40, for a total value of $996,184.60. Following the transaction, the director now owns 206,318 shares of the company’s stock, valued at approximately $32,474,453.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.84% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. MML Investors Services LLC raised its stake in shares of Jack Henry & Associates by 16.0% in the 3rd quarter. MML Investors Services LLC now owns 4,686 shares of the technology company’s stock valued at $750,000 after acquiring an additional 647 shares during the period. Rhumbline Advisers raised its stake in shares of Jack Henry & Associates by 4.7% in the 3rd quarter. Rhumbline Advisers now owns 207,712 shares of the technology company’s stock valued at $33,251,000 after acquiring an additional 9,299 shares during the period. IBM Retirement Fund purchased a new position in shares of Jack Henry & Associates in the 3rd quarter valued at $201,000. Toronto Dominion Bank raised its stake in shares of Jack Henry & Associates by 9.1% in the 3rd quarter. Toronto Dominion Bank now owns 8,396 shares of the technology company’s stock valued at $1,344,000 after acquiring an additional 697 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Jack Henry & Associates by 3.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 301,777 shares of the technology company’s stock worth $48,308,000 after buying an additional 9,904 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.
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Jack Henry & Associates Company Profile
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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