UBS Group Upgrades Jack Henry & Associates (NASDAQ:JKHY) to “Buy”

UBS Group upgraded shares of Jack Henry & Associates (NASDAQ:JKHY – Get Rating) from a neutral rating to a buy rating in a research note published on Wednesday, MarketBeat reports. The firm currently has $184.00 price target on the technology company’s stock.

Several other research firms have also issued reports on JKHY. Royal Bank of Canada reissued a sector perform rating and set a $184.00 price target (down previously from $193.00) on shares of Jack Henry & Associates in a report on Thursday, February 9th. Morgan Stanley decreased their target price on shares of Jack Henry & Associates from $185.00 to $175.00 and set an equal weight rating on the stock in a research note on Thursday, February 9th. Evercore ISI lowered their price target on shares of Jack Henry & Associates to $170.00 in a report on Tuesday, November 15th. Robert W. Baird lowered their price target on shares of Jack Henry & Associates from $190.00 to $175.00 and set a neutral rating on the stock in a report on Thursday, February 9th. Finally, DA Davidson lowered their price target on shares of Jack Henry & Associates from $198.00 to $188.00 and set a neutral rating on the stock in a report on Thursday, February 9th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Jack Henry & Associates currently has an average rating of Hold and a consensus price target of $180.22.

Jack Henry & Associates Stock Down 1.1 %

Jack Henry & Associates stock opened at $146.46 on Wednesday. The stock has a market cap of $10.69 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 3.35 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15. Jack Henry & Associates has a one year low of $139.28 and a one year high of $212.62. The stock has a fifty day moving average of $170.02 and a 200 day moving average of $180.22.

Jack Henry & Associates (NASDAQ:JKHY – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The technology company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). The firm had revenue of $505.30 million for the quarter, compared to analysts’ expectations of $515.47 million. Jack Henry & Associates had a net margin of 17.66% and a return on equity of 24.81%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 EPS. As a group, sell-side analysts predict that Jack Henry & Associates will post 4.82 EPS for the current year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Wednesday, March 8th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 7th. This represents a $2.08 annualized dividend and a dividend yield of 1.42%. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.49. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 43.15%.

Insider Activity

In related news, Director Laura G. Kelly acquired 1,000 shares of Jack Henry & Associates stock in a transaction dated Tuesday, March 14th. The shares were purchased at an average price of $145.29 per share, for a total transaction of $145,290.00. Following the completion of the transaction, the director now directly owns 16,194 shares in the company, valued at approximately $2,352,826.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Jack Henry & Associates

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its position in Jack Henry & Associates by 1.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 9,306 shares of the technology company’s stock worth $1,696,000 after purchasing an additional 109 shares during the last quarter. Fifth Third Bancorp increased its position in Jack Henry & Associates by 24.9% in the third quarter. Fifth Third Bancorp now owns 1,843 shares of the technology company’s stock worth $336,000 after purchasing an additional 367 shares during the last quarter. Ossiam increased its position in Jack Henry & Associates by 9,693.3% in the second quarter. Ossiam now owns 17,432 shares of the technology company’s stock worth $3,138,000 after purchasing an additional 17,254 shares during the last quarter. Summit Global Investments bought a new stake in Jack Henry & Associates in the second quarter worth $1,284,000. Finally, CoreCap Advisors LLC bought a new stake in Jack Henry & Associates in the second quarter worth $27,000. Institutional investors own 90.26% of the company’s stock.

About Jack Henry & Associates

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Jack Henry & Associates, Inc is a technology company, which engages in the provision of technology solutions and payment processing services primarily for financial services organizations. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions, which consist of integrated applications required to process deposit, loan, general ledger transactions, and maintain centralized customer or member information.