Jack Henry & Associates (NASDAQ:JKHY) Lowered to Hold Rating by StockNews.com

Jack Henry & Associates (NASDAQ:JKHY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other equities research analysts have also commented on JKHY. Compass Point assumed coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Stephens reissued 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. Keefe, Bruyette & Woods upped 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, November 7th. Finally, Robert W. Baird raised their price target on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $188.73.

Jack Henry & Associates Stock Performance

JKHY traded up $0.71 on Tuesday, hitting $173.10. 592,350 shares of the company traded hands, compared to its average volume of 459,076. The company has a 50 day moving average of $179.11 and a 200-day moving average of $171.33. Jack Henry & Associates has a 12-month low of $153.05 and a 12-month high of $189.63. The stock has a market capitalization of $12.63 billion, a PE ratio of 31.70, a PEG ratio of 3.25 and a beta of 0.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The firm had revenue of $600.98 million during the quarter, compared to the consensus estimate of $599.56 million. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. Sell-side analysts anticipate that Jack Henry & Associates will post 5.8 earnings per share for the current year.

Insider Activity at Jack Henry & Associates

In other news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the sale, the insider now directly owns 138,665 shares in the company, valued at $23,756,087.80. The trade was a 11.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Jack Henry & Associates

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its position in shares of Jack Henry & Associates by 6,680.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after acquiring an additional 113,696 shares during the period. Boston Trust Walden Corp increased its stake in Jack Henry & Associates by 3.0% in the second quarter. Boston Trust Walden Corp now owns 212,731 shares of the technology company’s stock valued at $35,318,000 after acquiring an additional 6,173 shares during the period. Harbor Capital Advisors Inc. raised its position in Jack Henry & Associates by 285.3% in the second quarter. Harbor Capital Advisors Inc. now owns 4,204 shares of the technology company’s stock worth $698,000 after purchasing an additional 3,113 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Jack Henry & Associates by 188.4% during the second quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock valued at $46,819,000 after purchasing an additional 184,210 shares in the last quarter. Finally, Comerica Bank grew its stake in shares of Jack Henry & Associates by 17.2% in the 1st quarter. Comerica Bank now owns 40,213 shares of the technology company’s stock valued at $6,986,000 after purchasing an additional 5,912 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

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.