Zacks Investment Research upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $138.00 target price on the technology company’s stock.

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 brokerages have also recently weighed in on JKHY. Robert W. Baird boosted their price target on shares of Jack Henry & Associates from $114.00 to $128.00 and gave the company a neutral rating in a research report on Wednesday, January 24th. DA Davidson assumed coverage on shares of Jack Henry & Associates in a research report on Monday, January 22nd. They issued a neutral rating and a $118.00 price target for the company. Oppenheimer reissued a hold rating on shares of Jack Henry & Associates in a research report on Thursday, January 18th. Royal Bank of Canada reissued a sector perform rating and issued a $103.00 price target (up from $96.00) on shares of Jack Henry & Associates in a research report on Thursday, November 9th. Finally, Cantor Fitzgerald upped their target price on shares of Jack Henry & Associates to $128.00 and gave the company an overweight rating in a report on Thursday, November 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Jack Henry & Associates presently has a consensus rating of Hold and an average target price of $122.17.

Shares of Jack Henry & Associates (JKHY) opened at $114.37 on Tuesday. Jack Henry & Associates has a 1 year low of $88.33 and a 1 year high of $127.31. The firm has a market cap of $9,054.20, a price-to-earnings ratio of 25.82, a P/E/G ratio of 3.17 and a beta of 0.78.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). Jack Henry & Associates had a net margin of 23.35% and a return on equity of 23.11%. The company had revenue of $359.93 million during the quarter, compared to analysts’ expectations of $360.50 million. analysts anticipate that Jack Henry & Associates will post 3.36 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Jack Henry & Associates by 28.7% in the second quarter. State Street Corp now owns 2,673,266 shares of the technology company’s stock valued at $277,675,000 after buying an additional 596,227 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Jack Henry & Associates by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,166,434 shares of the technology company’s stock valued at $136,426,000 after buying an additional 9,507 shares during the last quarter. Congress Asset Management Co. MA raised its holdings in shares of Jack Henry & Associates by 2.1% in the fourth quarter. Congress Asset Management Co. MA now owns 786,312 shares of the technology company’s stock valued at $91,967,000 after buying an additional 15,914 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of Jack Henry & Associates by 11.0% in the third quarter. TimesSquare Capital Management LLC now owns 713,470 shares of the technology company’s stock valued at $73,338,000 after buying an additional 70,770 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Jack Henry & Associates by 3.7% in the fourth quarter. Swiss National Bank now owns 630,300 shares of the technology company’s stock valued at $73,720,000 after buying an additional 22,500 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

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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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Analyst Recommendations for Jack Henry & Associates (NASDAQ:JKHY)

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