Zacks Investment Research upgraded shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States. A technology provider for the financial industry. That’s the simplest way to describe what they do. But it hardly describes what Jack Henry & Associates is really about. Jack Henry & Associates are about solutions and support. They’re about building relationships and making things work. The Company are about doing the right things for our customers, no matter what. It began as a vision, and it’s become our tradition. “

A number of other equities research analysts have also recently issued reports on JKHY. BidaskClub cut shares of Jack Henry & Associates from a strong-buy rating to a buy rating in a research note on Saturday, August 19th. Stephens reissued an equal weight rating and issued a $97.00 price target (up previously from $93.00) on shares of Jack Henry & Associates in a research note on Friday, August 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Jack Henry & Associates in a research note on Monday, August 28th. They issued an overweight rating and a $112.00 price target on the stock.

Jack Henry & Associates (NASDAQ:JKHY) traded down 0.26% during trading on Wednesday, hitting $101.83. 27,813 shares of the stock traded hands. Jack Henry & Associates has a 52-week low of $79.00 and a 52-week high of $109.67. The stock has a market cap of $7.89 billion, a P/E ratio of 32.43 and a beta of 0.75. The stock has a 50 day moving average price of $103.51 and a 200-day moving average price of $100.28.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Tuesday, August 15th. The technology company reported $0.83 EPS for the quarter, hitting analysts’ consensus estimates of $0.83. The business had revenue of $383.77 million for the quarter, compared to analysts’ expectations of $372.98 million. Jack Henry & Associates had a net margin of 17.17% and a return on equity of 24.65%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $1.06 EPS. On average, analysts anticipate that Jack Henry & Associates will post $3.28 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.24 dividend on an annualized basis and a yield of 1.21%. Jack Henry & Associates’s dividend payout ratio is currently 39.49%.

Institutional investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp grew its stake in Jack Henry & Associates by 21.9% in the 2nd quarter. Synovus Financial Corp now owns 12,251 shares of the technology company’s stock valued at $1,277,000 after acquiring an additional 2,202 shares during the period. BlackRock Inc. grew its stake in Jack Henry & Associates by 11,657.7% in the 1st quarter. BlackRock Inc. now owns 6,171,400 shares of the technology company’s stock valued at $574,556,000 after acquiring an additional 6,118,912 shares during the period. Moody Aldrich Partners LLC acquired a new stake in Jack Henry & Associates in the 2nd quarter valued at $219,000. TD Asset Management Inc. grew its stake in Jack Henry & Associates by 13.7% in the 1st quarter. TD Asset Management Inc. now owns 71,188 shares of the technology company’s stock valued at $6,628,000 after acquiring an additional 8,600 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Jack Henry & Associates in the 2nd quarter valued at $3,302,000. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a provider of information processing solutions for community banks. The Company offers a range of products and services, including processing transactions, automating business processes, and managing information financial institutions and diverse corporate entities. It operates in two segments: bank systems and services (Bank) and credit union systems and services (Credit Union).

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