Jack Henry & Associates (NASDAQ:JKHY) Price Target Raised to $203.00

Jack Henry & Associates (NASDAQ:JKHY) had its price target upped by Royal Bank of Canada from $181.00 to $203.00 in a research report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

JKHY has been the topic of a number of other reports. StockNews.com raised Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Stephens reaffirmed an “equal weight” rating and issued a $170.00 price target on shares of Jack Henry & Associates in a report on Wednesday, November 6th. Keefe, Bruyette & Woods raised their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a report on Thursday. Oppenheimer assumed coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 target price for the company. Finally, Robert W. Baird increased their price target on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $188.73.

Jack Henry & Associates Price Performance

JKHY opened at $179.77 on Thursday. Jack Henry & Associates has a twelve month low of $146.46 and a twelve month high of $189.63. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.37 and a beta of 0.63. The company has a current ratio of 0.51, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $179.26 and a 200 day simple moving average of $170.68.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The company had revenue of $600.98 million during the quarter, compared to the consensus estimate of $599.56 million. During the same period last year, the firm earned $1.39 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Jack Henry & Associates will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio (DPR) is 40.29%.

Institutional Trading of Jack Henry & Associates

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Jack Henry & Associates by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,688,433 shares of the technology company’s stock worth $1,509,441,000 after purchasing an additional 39,456 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Jack Henry & Associates by 1.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company’s stock valued at $657,158,000 after acquiring an additional 67,386 shares during the period. Envestnet Asset Management Inc. raised its stake in Jack Henry & Associates by 2.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,056,151 shares of the technology company’s stock valued at $175,342,000 after acquiring an additional 23,617 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Jack Henry & Associates by 8.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company’s stock worth $152,495,000 after acquiring an additional 66,600 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of Jack Henry & Associates by 25.6% in the first quarter. TD Asset Management Inc now owns 684,363 shares of the technology company’s stock worth $118,894,000 after purchasing an additional 139,582 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

About Jack Henry & Associates

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.