Jack Henry & Associates (NASDAQ:JKHY) Downgraded by BidaskClub

BidaskClub cut shares of Jack Henry & Associates (NASDAQ:JKHY) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Other research analysts have also issued research reports about the stock. Atlantic Securities started coverage on shares of Jack Henry & Associates in a report on Tuesday, September 3rd. They issued a neutral rating and a $147.00 price target on the stock. Zacks Investment Research upgraded shares of Jack Henry & Associates from a sell rating to a hold rating in a report on Thursday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Jack Henry & Associates has an average rating of Buy and an average target price of $151.50.

NASDAQ JKHY traded down $1.17 during mid-day trading on Thursday, hitting $145.21. The company’s stock had a trading volume of 246,030 shares, compared to its average volume of 431,859. Jack Henry & Associates has a 52-week low of $120.20 and a 52-week high of $163.68. The stock’s fifty day simple moving average is $141.53 and its two-hundred day simple moving average is $138.51. The firm has a market capitalization of $11.29 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.92.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, August 20th. The technology company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.02. Jack Henry & Associates had a net margin of 17.51% and a return on equity of 19.37%. The firm had revenue of $393.50 million for the quarter, compared to analyst estimates of $390.70 million. During the same quarter last year, the firm posted $1.10 earnings per share. Jack Henry & Associates’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Jack Henry & Associates will post 3.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.60 annualized dividend and a yield of 1.10%. Jack Henry & Associates’s payout ratio is 45.45%.

In other news, insider Mark S. Forbis sold 501 shares of Jack Henry & Associates stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $137.58, for a total transaction of $68,927.58. Following the sale, the insider now owns 797 shares in the company, valued at $109,651.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wesley A. Brown sold 3,320 shares of Jack Henry & Associates stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $137.35, for a total transaction of $456,002.00. Following the sale, the director now owns 90,931 shares in the company, valued at approximately $12,489,372.85. The disclosure for this sale can be found here. Insiders sold 8,821 shares of company stock worth $1,213,430 in the last 90 days. 0.84% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Jack Henry & Associates during the second quarter valued at approximately $25,000. Flagship Harbor Advisors LLC increased its stake in shares of Jack Henry & Associates by 38.7% in the second quarter. Flagship Harbor Advisors LLC now owns 258 shares of the technology company’s stock worth $34,000 after buying an additional 72 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Jack Henry & Associates by 33.2% in the first quarter. Advisory Services Network LLC now owns 329 shares of the technology company’s stock worth $45,000 after buying an additional 82 shares during the last quarter. CSat Investment Advisory L.P. increased its stake in shares of Jack Henry & Associates by 60.6% in the second quarter. CSat Investment Advisory L.P. now owns 350 shares of the technology company’s stock worth $47,000 after buying an additional 132 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of Jack Henry & Associates in the second quarter worth $50,000. Institutional investors own 90.86% of the company’s stock.

About Jack Henry & Associates

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.

Further Reading: What is the formula for calculating total return?

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

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.