Jack Henry & Associates (NASDAQ:JKHY) Stock Price Target Raised at Barclays

Jack Henry & Associates (NASDAQ:JKHY) had its price objective hoisted by investment analysts at Barclays from $185.00 to $190.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would indicate a potential upside of 5.08% from the stock’s previous close.

Other analysts also recently issued reports about the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $178.00 price target on shares of Jack Henry & Associates in a report on Wednesday, September 30th. Wolfe Research boosted their price objective on Jack Henry & Associates from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Morgan Stanley decreased their target price on Jack Henry & Associates from $170.00 to $158.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 30th. Weiss Ratings upgraded shares of Jack Henry & Associates from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Finally, Bank of America started coverage on shares of Jack Henry & Associates in a research note on Thursday, October 15th. They set a “neutral” rating and a $165.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.28.

Jack Henry & Associates Trading Up 0.9%

NASDAQ JKHY traded up $1.66 during mid-day trading on Thursday, hitting $180.82. The company’s stock had a trading volume of 541,878 shares, compared to its average volume of 1,127,175. The firm has a market capitalization of $12.68 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 2.00 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.17 and a quick ratio of 1.17. Jack Henry & Associates has a 52-week low of $121.04 and a 52-week high of $193.39. The stock’s fifty day simple moving average is $156.74 and its two-hundred day simple moving average is $154.53.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, November 3rd. The technology company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.21. Jack Henry & Associates had a net margin of 19.96% and a return on equity of 24.38%. The company had revenue of $682.18 million during the quarter, compared to the consensus estimate of $685.54 million. During the same period in the previous year, the firm earned $1.97 earnings per share. Jack Henry & Associates’s revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts expect that Jack Henry & Associates will post 7.30 EPS for the current year.

Hedge Funds Weigh In On Jack Henry & Associates

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in Jack Henry & Associates by 1,918.2% during the second quarter. Van ECK Associates Corp now owns 1,308,353 shares of the technology company’s stock valued at $180,213,000 after purchasing an additional 1,243,526 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Jack Henry & Associates by 13,343.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company’s stock valued at $170,430,000 after buying an additional 1,070,376 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Jack Henry & Associates by 13.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 752,025 shares of the technology company’s stock valued at $118,842,000 after buying an additional 86,810 shares during the period. First Trust Advisors LP boosted its holdings in shares of Jack Henry & Associates by 33.8% in the 1st quarter. First Trust Advisors LP now owns 734,298 shares of the technology company’s stock valued at $116,048,000 after buying an additional 185,465 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in shares of Jack Henry & Associates by 82.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 681,587 shares of the technology company’s stock valued at $107,718,000 after buying an additional 307,886 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company that provides software, payment solutions and technology services to banks and credit unions. Its offerings are designed to support core banking operations, digital banking, account management, lending, payments, fraud prevention and other financial institution functions.

The company serves community and regional banks, credit unions and other financial services organizations in the United States. Its products are delivered through integrated platforms and services intended to help financial institutions manage daily operations, improve customer and member experiences, and connect with third-party financial technology providers.

Founded in 1976 and headquartered in Monett, Missouri, Jack Henry has expanded through internal development and acquisitions, including the 2004 acquisition of Symitar, a provider of core processing and related technology for credit unions.