Cantor Fitzgerald restated their buy rating on shares of Jack Henry & Associates (NASDAQ:JKHY) in a research note issued to investors on Tuesday morning. They currently have a $163.00 target price on the technology company’s stock.
“: We maintain our Overweight rating and our 12-month PT of $163 on JKHY. (We will review our estimates and PT post the earnings call.) JKHY reported quarterly top-line results and EPS above the FactSet consensus. We look to the earnings call for color on the new payments platform and pipeline updates, the impact and timing of termination fees, and the margin trajectory.”,” the firm’s analyst commented.
A number of other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Jack Henry & Associates from a sell rating to a hold rating in a research note on Friday, February 1st. BidaskClub upgraded Jack Henry & Associates from a hold rating to a buy rating in a research note on Wednesday, January 30th. Finally, ValuEngine cut shares of Jack Henry & Associates from a strong-buy rating to a buy rating in a report on Thursday, November 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $146.80.
Shares of NASDAQ JKHY traded down $3.41 during midday trading on Tuesday, reaching $132.38. The company’s stock had a trading volume of 426,727 shares, compared to its average volume of 456,277. Jack Henry & Associates has a 12-month low of $112.78 and a 12-month high of $163.68. The company has a market capitalization of $10.46 billion, a PE ratio of 36.87, a PEG ratio of 3.36 and a beta of 0.89.
Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, February 5th. The technology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. Jack Henry & Associates had a return on equity of 24.13% and a net margin of 25.29%. The firm had revenue of $386.28 million for the quarter, compared to the consensus estimate of $380.40 million. During the same quarter in the previous year, the business earned $2.08 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Research analysts expect that Jack Henry & Associates will post 3.67 earnings per share for the current fiscal year.
In related news, VP Mark S. Forbis sold 3,000 shares of Jack Henry & Associates stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $134.91, for a total value of $404,730.00. Following the sale, the vice president now owns 5,038 shares of the company’s stock, valued at approximately $679,676.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.84% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Jack Henry & Associates by 1.8% during the 3rd quarter. BlackRock Inc. now owns 9,157,589 shares of the technology company’s stock valued at $1,465,948,000 after acquiring an additional 163,238 shares during the period. Vanguard Group Inc raised its holdings in Jack Henry & Associates by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 7,854,780 shares of the technology company’s stock valued at $1,257,394,000 after acquiring an additional 60,151 shares during the period. Capital World Investors raised its holdings in Jack Henry & Associates by 35.2% during the 3rd quarter. Capital World Investors now owns 6,876,882 shares of the technology company’s stock valued at $1,100,851,000 after acquiring an additional 1,790,330 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Jack Henry & Associates by 9,075.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,617,727 shares of the technology company’s stock valued at $36,000 after acquiring an additional 4,567,400 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Jack Henry & Associates by 5.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 910,874 shares of the technology company’s stock valued at $145,839,000 after acquiring an additional 44,148 shares during the period. 89.54% of the stock is currently owned by institutional investors and hedge funds.
Jack Henry & Associates Company Profile
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
Read More: Why do companies engage in swaps?
Receive News & Ratings for Jack Henry & Associates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack Henry & Associates and related companies with MarketBeat.com's FREE daily email newsletter.