Jack Henry & Associates (NASDAQ:JKHY) Price Target Increased to $172.00 by Analysts at Evercore ISI

Jack Henry & Associates (NASDAQ:JKHY) had its target price raised by Evercore ISI from $157.00 to $172.00 in a research note issued to investors on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the technology company’s stock.

Several other research firms have also commented on JKHY. Royal Bank of Canada raised their price objective on Jack Henry & Associates from $161.00 to $181.00 and gave the company a sector perform rating in a research report on Thursday, February 8th. William Blair reaffirmed an outperform rating on shares of Jack Henry & Associates in a research report on Wednesday, February 7th. Wolfe Research assumed coverage on Jack Henry & Associates in a research report on Thursday, March 7th. They set a peer perform rating on the stock. Robert W. Baird reaffirmed a neutral rating and set a $176.00 target price on shares of Jack Henry & Associates in a research report on Tuesday, January 30th. Finally, Citigroup began coverage on Jack Henry & Associates in a research report on Thursday, January 18th. They set a neutral rating and a $177.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Jack Henry & Associates presently has an average rating of Hold and an average price target of $171.00.

Jack Henry & Associates Price Performance

Shares of Jack Henry & Associates stock opened at $173.73 on Tuesday. Jack Henry & Associates has a twelve month low of $136.57 and a twelve month high of $178.37. The stock has a market capitalization of $12.66 billion, a P/E ratio of 34.00, a PEG ratio of 4.04 and a beta of 0.66. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $171.30 and its 200 day moving average price is $160.70.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.14 by $0.12. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. The company had revenue of $545.70 million for the quarter, compared to analyst estimates of $540.34 million. During the same period last year, the company posted $1.10 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, research analysts anticipate that Jack Henry & Associates will post 5.11 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were paid a $0.55 dividend. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.52. This represents a $2.20 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, March 7th. Jack Henry & Associates’s payout ratio is presently 43.05%.

Hedge Funds Weigh In On Jack Henry & Associates

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in Jack Henry & Associates by 16.1% in the third quarter. Nordea Investment Management AB now owns 545,605 shares of the technology company’s stock valued at $82,779,000 after acquiring an additional 75,735 shares during the period. Inspire Investing LLC boosted its stake in Jack Henry & Associates by 5.1% in the third quarter. Inspire Investing LLC now owns 4,446 shares of the technology company’s stock valued at $672,000 after acquiring an additional 217 shares during the period. CWM LLC boosted its position in shares of Jack Henry & Associates by 7.8% during the third quarter. CWM LLC now owns 1,945 shares of the technology company’s stock worth $294,000 after buying an additional 141 shares during the period. State Street Corp boosted its position in shares of Jack Henry & Associates by 0.6% during the second quarter. State Street Corp now owns 3,223,752 shares of the technology company’s stock worth $539,430,000 after buying an additional 19,148 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Jack Henry & Associates by 202.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,106 shares of the technology company’s stock worth $1,527,000 after buying an additional 6,760 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.