Jack Henry & Associates, Inc. (NASDAQ:JKHY) Stock Has Consensus Target Price of $190.00 According to Brokerages

Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) have received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $193.18.

Several research analysts have recently weighed in on JKHY shares. Morgan Stanley lowered their price objective 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 raised Jack Henry & Associates from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. UBS Group upped their target price on Jack Henry & Associates from $170.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 5th. Raymond James Financial raised their target price on Jack Henry & Associates from $192.00 to $199.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 16th. Finally, KeyCorp started coverage on Jack Henry & Associates in a report on Monday, September 14th. They issued an “overweight” rating and a $190.00 target price for the company.

Jack Henry & Associates Stock Down 1.2%

Shares of NASDAQ JKHY opened at $171.20 on Tuesday. The company’s 50 day moving average price is $157.00 and its 200-day moving average price is $154.33. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.50. Jack Henry & Associates has a 52-week low of $121.04 and a 52-week high of $193.39. The company has a market capitalization of $12.00 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 2.16 and a beta of 0.55.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, November 3rd. The technology company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.21. The company had revenue of $682.18 million during the quarter, compared to analysts’ expectations of $685.54 million. Jack Henry & Associates had a net margin of 19.96% and a return on equity of 24.46%. Jack Henry & Associates’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.97 earnings per share. Equities analysts forecast that Jack Henry & Associates will post 7.40 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Monday, September 7th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.44 annualized dividend and a dividend yield of 1.4%. Jack Henry & Associates’s dividend payout ratio (DPR) is 33.52%.

Institutional Trading of Jack Henry & Associates

Several hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted 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 worth $180,213,000 after acquiring an additional 1,243,526 shares in the last quarter. Janus Henderson Group PLC increased its stake in Jack Henry & Associates by 13,343.0% in the first quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company’s stock valued at $170,430,000 after purchasing an additional 1,070,376 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Jack Henry & Associates by 13.0% in the first quarter. Dimensional Fund Advisors LP now owns 752,025 shares of the technology company’s stock valued at $118,842,000 after purchasing an additional 86,810 shares in the last quarter. First Trust Advisors LP increased its stake in Jack Henry & Associates by 33.8% in the first quarter. First Trust Advisors LP now owns 734,298 shares of the technology company’s stock valued at $116,048,000 after purchasing an additional 185,465 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Jack Henry & Associates by 82.4% during the first quarter. Epoch Investment Partners Inc. now owns 681,587 shares of the technology company’s stock valued at $107,718,000 after purchasing an additional 307,886 shares during the period. 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 and services to banks and credit unions. Founded in 1976 and headquartered in Monett, Missouri, the company focuses on helping financial institutions manage operations and serve customers.

Its offerings include core banking systems, digital banking platforms, payment processing, lending solutions, and tools for managing fraud, risk, and information security. Jack Henry also provides data, hosting, and related technology services.

The company serves financial institutions across the United States, including community and regional banks and credit unions.