Jack Henry & Associates, Inc. (NASDAQ:JKHY) to Issue $0.55 Quarterly Dividend

Jack Henry & Associates, Inc. (NASDAQ:JKHY) announced a quarterly dividend on Wednesday, November 13th,RTT News reports. Investors of record on Monday, December 2nd will be given a dividend of 0.55 per share by the technology company on Monday, December 23rd. This represents a $2.20 annualized dividend and a yield of 1.26%.

Jack Henry & Associates has increased its dividend by an average of 6.5% per year over the last three years and has raised its dividend every year for the last 34 years. Jack Henry & Associates has a payout ratio of 37.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Jack Henry & Associates to earn $6.25 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 35.2%.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock traded down $0.80 during trading hours on Thursday, hitting $174.15. 45,042 shares of the company traded hands, compared to its average volume of 446,672. Jack Henry & Associates has a 1-year low of $151.05 and a 1-year high of $189.63. The firm has a market cap of $12.71 billion, a P/E ratio of 32.04, a P/E/G ratio of 3.34 and a beta of 0.63. The firm’s 50-day simple moving average is $179.40 and its two-hundred day simple moving average is $170.87. The company has a quick ratio of 1.00, a current ratio of 1.11 and a debt-to-equity ratio of 0.03.

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

Analyst Ratings Changes

Several research analysts recently weighed in on JKHY shares. 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. Robert W. Baird lifted their price objective on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Compass Point started coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 target price on the stock. Royal Bank of Canada raised their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Finally, StockNews.com cut Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Jack Henry & Associates presently has a consensus rating of “Hold” and an average target price of $188.73.

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.