Jack Henry & Associates, Inc. (NASDAQ:JKHY) Announces Dividend Increase – $0.58 Per Share

Jack Henry & Associates, Inc. (NASDAQ:JKHY) declared a quarterly dividend on Monday, February 10th,RTT News reports. Investors of record on Thursday, March 6th will be paid a dividend of 0.58 per share by the technology company on Tuesday, March 25th. This represents a $2.32 annualized dividend and a yield of 1.33%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55.

Jack Henry & Associates has raised its dividend payment by an average of 6.1% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Jack Henry & Associates has a payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Jack Henry & Associates to earn $6.26 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 35.1%.

Jack Henry & Associates Trading Down 0.0 %

Shares of Jack Henry & Associates stock opened at $173.81 on Monday. Jack Henry & Associates has a 52-week low of $157.00 and a 52-week high of $189.63. The firm has a market capitalization of $12.68 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 3.46 and a beta of 0.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.11 and a quick ratio of 1.11. The company’s fifty day moving average price is $174.77 and its two-hundred day moving average price is $174.83.

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

Insider Activity

In related news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares in the company, valued at $23,756,087.80. This trade represents a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on JKHY. William Blair lowered Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods upped their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. 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, November 6th. Finally, Royal Bank of Canada lifted their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Jack Henry & Associates currently has an average rating of “Hold” and an average price target of $186.80.

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.