Jack Henry & Associates (NASDAQ:JKHY) Price Target Raised to $203.00 at Royal Bank of Canada

Jack Henry & Associates (NASDAQ:JKHY) had its price target hoisted by investment analysts at Royal Bank of Canada from $181.00 to $203.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.94% from the stock’s previous close.

JKHY has been the subject of a number of other reports. UBS Group boosted their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday. Compass Point assumed coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and set a $170.00 price objective on shares of Jack Henry & Associates in a research note on Wednesday. Keefe, Bruyette & Woods increased their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Oppenheimer assumed coverage on Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $188.73.

Jack Henry & Associates Price Performance

Shares of Jack Henry & Associates stock traded down $0.66 during midday trading on Thursday, reaching $179.74. The company had a trading volume of 165,727 shares, compared to its average volume of 442,967. The stock has a fifty day simple moving average of $178.97 and a 200 day simple moving average of $170.44. Jack Henry & Associates has a 1-year low of $146.46 and a 1-year high of $189.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 3.38 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. As a group, equities research analysts forecast that Jack Henry & Associates will post 5.82 earnings per share for the current year.

Hedge Funds Weigh In On Jack Henry & Associates

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC acquired a new stake in shares of Jack Henry & Associates in the 2nd quarter valued at about $25,000. Tortoise Investment Management LLC raised its position in Jack Henry & Associates by 76.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after buying an additional 71 shares during the last quarter. New Covenant Trust Company N.A. bought a new stake in Jack Henry & Associates in the 1st quarter valued at approximately $30,000. Blue Trust Inc. boosted its position in Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after acquiring an additional 134 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Jack Henry & Associates during the 3rd quarter worth approximately $48,000. 98.75% of the stock is owned by institutional investors and hedge funds.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.