Jack Henry & Associates (NASDAQ:JKHY) Rating Increased to Buy at StockNews.com

Jack Henry & Associates (NASDAQ:JKHY) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

JKHY has been the subject of several other reports. Royal Bank of Canada boosted their price target on Jack Henry & Associates from $161.00 to $181.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Bank of America raised shares of Jack Henry & Associates from a “neutral” rating to a “buy” rating and increased their price target for the company from $167.00 to $186.00 in a research report on Wednesday, December 6th. TheStreet upgraded shares of Jack Henry & Associates from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Wolfe Research initiated coverage on shares of Jack Henry & Associates in a research note on Thursday, March 7th. They issued a “peer perform” rating for the company. Finally, William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.00.

Jack Henry & Associates Stock Up 3.5 %

Shares of JKHY traded up $5.87 during midday trading on Wednesday, reaching $172.26. 585,422 shares of the stock were exchanged, compared to its average volume of 453,830. The company has a market capitalization of $12.55 billion, a P/E ratio of 33.71, a PEG ratio of 3.89 and a beta of 0.66. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.15. Jack Henry & Associates has a 52 week low of $136.57 and a 52 week high of $178.37. The company’s 50 day moving average is $170.99 and its two-hundred day moving average is $160.45.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.14 by $0.12. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The business had revenue of $545.70 million during the quarter, compared to analyst estimates of $540.34 million. During the same quarter in the previous year, the business posted $1.10 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Jack Henry & Associates will post 5.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of JKHY. Morgan Stanley increased its holdings in shares of Jack Henry & Associates by 117.1% during the 4th quarter. Morgan Stanley now owns 1,709,702 shares of the technology company’s stock valued at $300,155,000 after purchasing an additional 922,054 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Jack Henry & Associates by 24.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,640,497 shares of the technology company’s stock valued at $548,696,000 after buying an additional 726,875 shares in the last quarter. TD Asset Management Inc raised its position in shares of Jack Henry & Associates by 327.7% in the fourth quarter. TD Asset Management Inc now owns 544,781 shares of the technology company’s stock worth $89,023,000 after acquiring an additional 417,401 shares during the period. APG Asset Management US Inc. purchased a new stake in shares of Jack Henry & Associates during the 4th quarter worth about $54,552,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Jack Henry & Associates by 1,587.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 347,018 shares of the technology company’s stock valued at $56,706,000 after acquiring an additional 326,448 shares during the period. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.