Jack Henry & Associates, Inc. (NASDAQ:JKHY) Plans $0.55 Quarterly Dividend

Jack Henry & Associates, Inc. (NASDAQ:JKHY) declared a quarterly dividend on Thursday, May 9th, RTT News reports. Stockholders of record on Tuesday, May 28th will be paid a dividend of 0.55 per share by the technology company on Monday, June 17th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, May 24th.

Jack Henry & Associates has raised its dividend by an average of 6.5% per year over the last three years and has increased its dividend annually for the last 33 consecutive years. Jack Henry & Associates has a payout ratio of 38.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Jack Henry & Associates to earn $5.68 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 38.7%.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY opened at $169.63 on Thursday. The firm has a market cap of $12.37 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 4.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.39. Jack Henry & Associates has a 52 week low of $136.57 and a 52 week high of $178.37. The firm’s fifty day moving average is $168.06 and its 200-day moving average is $166.14.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, May 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.02. The business had revenue of $538.56 million for the quarter, compared to analyst estimates of $541.80 million. Jack Henry & Associates had a net margin of 17.28% and a return on equity of 22.18%. Jack Henry & Associates’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. Sell-side analysts predict that Jack Henry & Associates will post 5.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. DA Davidson restated a “buy” rating and issued a $198.00 target price on shares of Jack Henry & Associates in a report on Tuesday, April 30th. Royal Bank of Canada boosted their target price on shares of Jack Henry & Associates from $161.00 to $181.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Evercore ISI upped their price objective on shares of Jack Henry & Associates from $157.00 to $172.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Robert W. Baird upped their price objective on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Finally, Wolfe Research began coverage on shares of Jack Henry & Associates in a report on Thursday, March 7th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Jack Henry & Associates presently has an average rating of “Hold” and an average target price of $174.42.

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.