Jack Henry & Associates’ (JKHY) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Jack Henry & Associates (NASDAQ:JKHY) in a report released on Wednesday morning,Benzinga reports. The firm currently has a $178.00 price target on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays upped their price objective on Jack Henry & Associates from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Raymond James Financial raised their target price on shares of Jack Henry & Associates from $192.00 to $199.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 16th. UBS Group restated a “neutral” rating on shares of Jack Henry & Associates in a report on Wednesday, September 16th. Weiss Ratings raised shares of Jack Henry & Associates from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Finally, DA Davidson reiterated a “buy” rating and issued a $198.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.47.

Jack Henry & Associates Price Performance

NASDAQ:JKHY opened at $142.54 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50-day simple moving average is $157.68 and its 200 day simple moving average is $149.70. The company has a market cap of $9.99 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.64 and a beta of 0.56. Jack Henry & Associates has a 52-week low of $121.04 and a 52-week high of $193.39.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, August 18th. The technology company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.13. The business had revenue of $633.10 million for the quarter, compared to analyst estimates of $631.60 million. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.Jack Henry & Associates’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.75 earnings per share. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. As a group, sell-side analysts forecast that Jack Henry & Associates will post 7.31 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Monday, September 7th were given a dividend of $0.61 per share. The ex-dividend date was Friday, September 4th. This represents a $2.44 annualized dividend and a yield of 1.7%. Jack Henry & Associates’s dividend payout ratio (DPR) is 35.01%.

Institutional Investors Weigh In On Jack Henry & Associates

A number of institutional investors have recently made changes to their positions in the company. Dai ichi Life Insurance Company Ltd lifted its holdings in Jack Henry & Associates by 231.1% during the 1st quarter. Dai ichi Life Insurance Company Ltd now owns 21,102 shares of the technology company’s stock worth $3,335,000 after purchasing an additional 14,728 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Jack Henry & Associates in the 1st quarter valued at $3,569,000. Norges Bank acquired a new position in Jack Henry & Associates in the 4th quarter valued at $128,744,000. TD Asset Management Inc grew its holdings in Jack Henry & Associates by 9.8% in the 4th quarter. TD Asset Management Inc now owns 581,424 shares of the technology company’s stock valued at $106,098,000 after buying an additional 51,699 shares in the last quarter. Finally, Dockside LLC bought a new position in Jack Henry & Associates during the 4th quarter worth $5,367,000. Institutional investors own 98.75% of the company’s stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company that provides software, payment processing and related services to banks, credit unions and other financial institutions. Founded in 1976 and headquartered in Monett, Missouri, the company serves primarily U.S.-based community and regional financial institutions.

The company offers core processing platforms for banks and credit unions, including Jack Henry Banking and Symitar solutions. Its products and services support account processing, lending, deposit operations, financial reporting, digital banking, mobile banking and customer relationship management.

Jack Henry also provides payment processing, card services, electronic funds transfer capabilities, online account opening, cybersecurity, document and information management, business intelligence and other technology services.