Jack Henry & Associates Inc. (NASDAQ:JKHY) dropped 3.1% during mid-day trading on Wednesday . The company traded as low as $85.26 and last traded at $85.66, with a volume of 404,827 shares trading hands. The stock had previously closed at $88.40.

JKHY has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research note on Wednesday, July 6th. Robert W. Baird reissued a “hold” rating on shares of Jack Henry & Associates in a research note on Monday, May 16th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $84.00 price target 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 assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $80.25.

The firm has a market cap of $6.88 billion and a PE ratio of 31.00. The firm has a 50 day moving average of $88.15 and a 200 day moving average of $84.12.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, August 16th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.26. During the same period in the previous year, the business posted $0.75 EPS. The company had revenue of $367 million for the quarter, compared to analyst estimates of $355.40 million. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that Jack Henry & Associates Inc. will post $3.06 earnings per share for the current year.

Other hedge funds recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Jack Henry & Associates by 25.4% in the fourth quarter. Bank of Montreal Can now owns 20,232 shares of the company’s stock worth $1,579,000 after buying an additional 4,103 shares during the last quarter. Principal Financial Group Inc. increased its stake in Jack Henry & Associates by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 260,330 shares of the company’s stock worth $20,321,000 after buying an additional 5,740 shares during the last quarter. Victory Capital Management Inc. increased its stake in 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. Finally, Advisors Asset Management Inc. increased its stake 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 worth $1,407,000 after buying an additional 7,674 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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