Jack Henry & Associates (NASDAQ:JKHY – Get Rating) updated its FY 2023 earnings guidance on Tuesday. 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.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on JKHY. Credit Suisse Group upped their price target on Jack Henry & Associates from $175.00 to $180.00 and gave the stock a neutral rating in a research note on Thursday, August 18th. Evercore ISI increased their target price on Jack Henry & Associates to $175.00 in a research note on Tuesday, August 23rd. StockNews.com cut Jack Henry & Associates from a buy rating to a hold rating in a research note on Thursday, August 25th. DA Davidson cut Jack Henry & Associates from a buy rating to a neutral rating and set a $210.00 target price on the stock. in a research note on Thursday, August 18th. Finally, Morgan Stanley cut their target price on Jack Henry & Associates from $190.00 to $185.00 and set an equal weight rating on the stock in a research note on Thursday, August 18th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Jack Henry & Associates currently has an average rating of Hold and a consensus price target of $184.00.
Jack Henry & Associates Stock Performance
Shares of Jack Henry & Associates stock traded down $2.11 during trading on Friday, hitting $184.65. 12,862 shares of the company’s stock traded hands, compared to its average volume of 423,211. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.13 and a quick ratio of 1.13. Jack Henry & Associates has a 1 year low of $147.50 and a 1 year high of $212.62. The stock 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 business has a 50-day simple moving average of $199.51 and a 200-day simple moving average of $191.31.
Jack Henry & Associates Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 9th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, September 8th. Jack Henry & Associates’s dividend payout ratio is 39.68%.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Fairfield Bush & CO. bought a new position in shares of Jack Henry & Associates in the first quarter worth about $104,000. Lumature Wealth Partners LLC raised its stake in shares of Jack Henry & Associates by 73.9% in the first quarter. Lumature Wealth Partners LLC now owns 692 shares of the technology company’s stock worth $136,000 after buying an additional 294 shares during the period. Covestor Ltd raised its stake in shares of Jack Henry & Associates by 89.2% in the first quarter. Covestor Ltd now owns 872 shares of the technology company’s stock worth $172,000 after buying an additional 411 shares during the period. Cetera Advisor Networks LLC bought a new stake in Jack Henry & Associates during the 1st quarter valued at approximately $208,000. Finally, Walleye Capital LLC bought a new stake in Jack Henry & Associates during the 2nd quarter valued at approximately $215,000. Institutional investors own 90.80% of the company’s stock.
Jack Henry & Associates Company Profile
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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