Jack Henry & Associates (NASDAQ:JKHY) Upgraded to “Neutral” at The Goldman Sachs Group

Jack Henry & Associates (NASDAQ:JKHY) was upgraded by investment analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report released on Wednesday,Finviz reports. The brokerage presently has a $183.00 price target on the technology company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 0.55% from the stock’s current price.

Other equities analysts have also issued reports about the stock. William Blair restated an “outperform” rating on shares of Jack Henry & Associates in a report on Tuesday, February 18th. Northcoast Research cut Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company initiated coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $186.45.

Jack Henry & Associates Price Performance

JKHY stock opened at $184.02 on Wednesday. Jack Henry & Associates has a 52-week low of $157.00 and a 52-week high of $196.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The stock has a market cap of $13.41 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 3.36 and a beta of 0.65. The business has a fifty day moving average of $175.03 and a two-hundred day moving average of $176.44.

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

Institutional Investors Weigh In On Jack Henry & Associates

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Jack Henry & Associates by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 8,811,373 shares of the technology company’s stock valued at $1,544,634,000 after purchasing an additional 157,360 shares during the last quarter. State Street Corp grew its position in shares of Jack Henry & Associates by 1.7% in the 3rd quarter. State Street Corp now owns 3,976,658 shares of the technology company’s stock valued at $702,039,000 after buying an additional 67,716 shares during the last quarter. Invesco Ltd. grew its position in shares of Jack Henry & Associates by 29.9% in the 4th quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock valued at $359,523,000 after buying an additional 471,507 shares during the last quarter. Geode Capital Management LLC raised its stake in Jack Henry & Associates by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,990,506 shares of the technology company’s stock worth $349,796,000 after acquiring an additional 24,709 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Jack Henry & Associates by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after acquiring an additional 131,515 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

About Jack Henry & Associates

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.