Jack Henry & Associates, Inc. (NASDAQ:JKHY) Declares Dividend Increase – $0.58 Per Share

Jack Henry & Associates, Inc. (NASDAQ:JKHY) declared a quarterly dividend on Monday, February 10th,RTT News reports. Investors of record on Thursday, March 6th will be paid a dividend of 0.58 per share by the technology company on Tuesday, March 25th. This represents a $2.32 annualized dividend and a yield of 1.34%. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55.

Jack Henry & Associates has raised its dividend by an average of 6.1% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Jack Henry & Associates has a dividend payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Jack Henry & Associates to earn $6.26 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 35.1%.

Jack Henry & Associates Stock Down 0.1 %

Shares of NASDAQ JKHY opened at $173.66 on Tuesday. The stock has a market capitalization of $12.67 billion, a PE ratio of 31.35, a P/E/G ratio of 3.46 and a beta of 0.61. The company has a quick ratio of 1.11, a current ratio of 3.11 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $174.77 and a 200-day moving average of $174.87. Jack Henry & Associates has a 52-week low of $157.00 and a 52-week high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. On average, analysts anticipate that Jack Henry & Associates will post 5.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on JKHY shares. Royal Bank of Canada raised their target price on Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. William Blair downgraded shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Stephens reiterated an “equal weight” rating and issued a $170.00 price objective on shares of Jack Henry & Associates in a report on Wednesday, November 6th. UBS Group raised their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company started coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Jack Henry & Associates currently has an average rating of “Hold” and an average price target of $186.80.

Insider Buying and Selling

In other news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the transaction, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.37% of the stock is owned by company insiders.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.