Jack Henry & Associates (NASDAQ:JKHY) Coverage Initiated at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company initiated coverage on shares of Jack Henry & Associates (NASDAQ:JKHY) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set an “underweight” rating and a $155.00 price target on the technology company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 10.53% from the company’s previous close.

Several other analysts have also recently commented on JKHY. Oppenheimer began coverage on shares of Jack Henry & Associates in a research note on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price objective for the company. Robert W. Baird upped their price target on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group lifted their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. William Blair downgraded Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $185.91.

Jack Henry & Associates Trading Up 0.7 %

NASDAQ:JKHY opened at $173.25 on Tuesday. The company has a market capitalization of $12.64 billion, a P/E ratio of 31.73, a PEG ratio of 3.39 and a beta of 0.61. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates has a 12 month low of $157.00 and a 12 month high of $189.63. The firm has a fifty day simple moving average of $175.31 and a 200-day simple moving average of $173.78.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The business had revenue of $600.98 million for the quarter, compared to the consensus estimate of $599.56 million. During the same quarter in the previous year, the business earned $1.39 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Jack Henry & Associates will post 5.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David B. Foss sold 18,770 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the completion of the transaction, the insider now owns 138,665 shares in the company, valued at $23,756,087.80. This represents a 11.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jack Henry & Associates

Several large investors have recently bought and sold shares of JKHY. Nordea Investment Management AB boosted its stake in Jack Henry & Associates by 50.8% during the 4th quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock worth $136,720,000 after purchasing an additional 263,021 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Jack Henry & Associates by 51.4% in the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock worth $83,665,000 after buying an additional 171,041 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Jack Henry & Associates by 7.9% during the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock worth $316,326,000 after acquiring an additional 131,515 shares during the last quarter. Benjamin Edwards Inc. grew its stake in Jack Henry & Associates by 2,032.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock valued at $22,540,000 after acquiring an additional 121,667 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Jack Henry & Associates by 80.0% in the third quarter. Assenagon Asset Management S.A. now owns 207,757 shares of the technology company’s stock valued at $36,677,000 after purchasing an additional 92,359 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.