Jack Henry & Associates Inc. (NASDAQ:JKHY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $88.33, but opened at $88.34. Jack Henry & Associates shares last traded at $88.83, with a volume of 58,048 shares traded.

JKHY has been the subject of several analyst reports. Robert W. Baird reissued a “hold” rating on shares of Jack Henry & Associates in a research note on Monday, May 16th. Zacks Investment Research raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Thursday, May 5th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $84.00 price objective on shares of Jack Henry & Associates in a research note on Thursday, May 5th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $80.25.

The stock has a 50 day moving average of $87.45 and a 200 day moving average of $83.76. The stock has a market capitalization of $7.02 billion and a price-to-earnings ratio of 31.63.

Several hedge funds and institutional investors recently added to or reduced their stakes in the company. Broadview Advisors LLC increased its position in Jack Henry & Associates by 26.5% in the fourth quarter. Broadview Advisors LLC now owns 27,225 shares of the company’s stock valued at $2,125,000 after buying an additional 5,700 shares during the period. Westfield Capital Management Co. LP increased its position in Jack Henry & Associates by 12.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 87,772 shares of the company’s stock valued at $6,851,000 after buying an additional 9,400 shares during the period. TrimTabs Asset Management LLC bought a new position in Jack Henry & Associates during the fourth quarter valued at $2,250,000. US Bancorp DE increased its position in Jack Henry & Associates by 27.7% in the fourth quarter. US Bancorp DE now owns 120,183 shares of the company’s stock valued at $9,382,000 after buying an additional 26,096 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Jack Henry & Associates by 74.2% in the fourth quarter. Advisors Asset Management Inc. now owns 18,021 shares of the company’s stock valued at $1,407,000 after buying an additional 7,674 shares during the period.

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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