Jack Henry & Associates Inc. (NASDAQ:JKHY) gapped up prior to trading on Wednesday . The stock had previously closed at $87.60, but opened at $87.73. Jack Henry & Associates shares last traded at $87.79, with a volume of 91,398 shares changing hands.

Several equities research analysts recently issued reports on JKHY shares. Zacks Investment Research cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Robert W. Baird restated a “hold” rating on shares of Jack Henry & Associates in a research report on Monday, May 16th. Finally, Oppenheimer Holdings Inc. restated a “buy” rating and set a $84.00 price objective on shares of Jack Henry & Associates in a research report on Thursday, May 5th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $80.25.

The stock has a market capitalization of $6.95 billion and a PE ratio of 31.31. The stock has a 50 day moving average of $85.63 and a 200-day moving average of $82.50.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, May 3rd. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. During the same quarter in the previous year, the firm earned $0.63 EPS. The business earned $333.20 million during the quarter, compared to analysts’ expectations of $325.92 million. Jack Henry & Associates’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that Jack Henry & Associates Inc. will post $2.86 EPS for the current year.

Other institutional investors have made changes to their positions in the company. TrimTabs Asset Management LLC acquired a new position in shares of Jack Henry & Associates during the fourth quarter worth $2,250,000. US Bancorp DE increased its position in shares of Jack Henry & Associates by 27.7% in the fourth quarter. US Bancorp DE now owns 120,183 shares of the company’s stock worth $9,382,000 after buying an additional 26,096 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Jack Henry & Associates by 74.2% in the fourth quarter. Advisors Asset Management Inc. now owns 18,021 shares of the company’s stock worth $1,407,000 after buying an additional 7,674 shares during the last quarter. American Capital Management Inc. increased its position in shares of Jack Henry & Associates by 1.0% in the fourth quarter. American Capital Management Inc. now owns 391,134 shares of the company’s stock worth $30,532,000 after buying an additional 3,984 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Jack Henry & Associates by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 14,602 shares of the company’s stock worth $1,140,000 after buying an additional 343 shares during the last quarter.

Jack Henry & Associates, Inc (JHA) is a provider of core information processing solutions for community banks. The Company provides integrated computer systems that perform data processing (available for in-house installations or outsourced services) for banks and credit unions. The Company operates in two segments: bank systems and services, and credit union systems and services.

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