Jack Henry & Associates (NASDAQ:JKHY) Stock Rating Upgraded by The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a sell rating to a neutral rating in a research note published on Wednesday morning, MarketBeat Ratings reports. The firm currently has $183.00 target price on the technology company’s stock.

Several other analysts also recently weighed in on JKHY. Wells Fargo & Company initiated coverage on shares of Jack Henry & Associates in a research report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 target price on the stock. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. Finally, Northcoast Research downgraded Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $186.45.

Jack Henry & Associates Stock Down 6.5 %

Shares of JKHY stock opened at $172.62 on Wednesday. The stock’s fifty day moving average price is $175.42 and its 200 day moving average price is $176.52. Jack Henry & Associates has a 1-year low of $157.00 and a 1-year high of $196.00. The company has a market cap of $12.58 billion, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 3.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. On average, research analysts expect that Jack Henry & Associates will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.58 per share. The ex-dividend date was Thursday, March 6th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 41.88%.

Institutional Trading of Jack Henry & Associates

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Jack Henry & Associates in the fourth quarter valued at approximately $132,817,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Jack Henry & Associates by 95.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company’s stock valued at $229,057,000 after purchasing an additional 643,697 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Jack Henry & Associates by 29.9% in the 4th quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock valued at $359,523,000 after purchasing an additional 471,507 shares during the period. Deutsche Bank AG boosted its holdings in Jack Henry & Associates by 170.6% during the fourth quarter. Deutsche Bank AG now owns 583,444 shares of the technology company’s stock worth $102,278,000 after buying an additional 367,806 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Jack Henry & Associates by 406.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 348,447 shares of the technology company’s stock valued at $61,083,000 after buying an additional 279,628 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. 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, and general ledger transactions, and maintain centralized customer and member information.