Jack Henry & Associates (NASDAQ:JKHY) Releases FY 2023 Earnings Guidance

Jack Henry & Associates (NASDAQ:JKHYGet Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.05-$5.09 for the period, compared to the consensus estimate of $4.84. The company issued revenue guidance of $2.04 billion-$2.05 billion, compared to the consensus revenue estimate of $1.94 billion.

Jack Henry & Associates Stock Down 1.1 %

JKHY stock traded down $2.11 during midday trading on Friday, reaching $184.65. The company had a trading volume of 12,862 shares, compared to its average volume of 423,211. Jack Henry & Associates has a 1 year low of $147.50 and a 1 year high of $212.62. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $13.46 billion, a P/E ratio of 37.81, a PEG ratio of 4.25 and a beta of 0.65. The company has a 50 day moving average of $199.51 and a two-hundred day moving average of $191.31.

Jack Henry & Associates (NASDAQ:JKHYGet Rating) last released its quarterly earnings results on Tuesday, August 16th. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Jack Henry & Associates had a net margin of 18.68% and a return on equity of 26.99%. The business had revenue of $482.67 million for the quarter, compared to the consensus estimate of $480.30 million. During the same quarter last year, the firm earned $1.04 EPS. Jack Henry & Associates’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Jack Henry & Associates will post 4.92 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, September 9th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, September 8th. Jack Henry & Associates’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JKHY. Evercore ISI lifted their price target on shares of Jack Henry & Associates to $175.00 in a research report on Tuesday, August 23rd. DA Davidson cut shares of Jack Henry & Associates from a buy rating to a neutral rating and set a $210.00 price target for the company. in a report on Thursday, August 18th. Credit Suisse Group upped their price target on shares of Jack Henry & Associates from $175.00 to $180.00 and gave the company a neutral rating in a report on Thursday, August 18th. StockNews.com lowered shares of Jack Henry & Associates from a buy rating to a hold rating in a research report on Thursday, August 25th. Finally, Royal Bank of Canada upped their price target on shares of Jack Henry & Associates from $190.00 to $199.00 and gave the stock a sector perform rating in a research report on Thursday, August 18th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Jack Henry & Associates has an average rating of Hold and a consensus price target of $184.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Jack Henry & Associates by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 530,518 shares of the technology company’s stock worth $104,539,000 after acquiring an additional 7,911 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Jack Henry & Associates by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 470,632 shares of the technology company’s stock valued at $92,739,000 after buying an additional 5,610 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Jack Henry & Associates by 523.8% in the 1st quarter. Baird Financial Group Inc. now owns 246,806 shares of the technology company’s stock valued at $48,633,000 after buying an additional 207,243 shares during the last quarter. Capital Group Private Client Services Inc. raised its holdings in Jack Henry & Associates by 1.3% in the 1st quarter. Capital Group Private Client Services Inc. now owns 230,175 shares of the technology company’s stock valued at $45,356,000 after buying an additional 2,872 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Jack Henry & Associates by 22.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 218,381 shares of the technology company’s stock valued at $39,312,000 after buying an additional 39,735 shares during the last quarter. Institutional investors own 90.80% of the company’s stock.

About Jack Henry & Associates

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Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The company offers information and transaction processing solutions for banks ranging from community to multi-billion-dollar asset institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.

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Earnings History and Estimates for Jack Henry & Associates (NASDAQ:JKHY)

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