Jack Henry & Associates (NASDAQ:JKHY) Price Target Raised to $215.00

Key Points

• Keefe, Bruyette & Woods raised its price target on Jack Henry & Associates from $200 to $215 and maintained an “outperform” rating, implying about 19% upside from the cited share price.
• Jack Henry reported quarterly EPS of $2.28, beating the $2.07 consensus, while revenue of $682.18 million came in slightly below estimates; revenue grew 8.8% year over year.
• Analysts overall have a “Moderate Buy” consensus rating and an average price target of $190. Shares were trading at $180.63 in Thursday’s session.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) had its target price upped by research analysts at Keefe, Bruyette & Woods from $200.00 to $215.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the technology company's stock. Keefe, Bruyette & Woods's target price would indicate a potential upside of 19.03% from the stock's current price.

JKHY has been the topic of several other research reports. KeyCorp started coverage on Jack Henry & Associates in a report on Monday, September 14th. They issued an "overweight" rating and a $190.00 target price on the stock. The Goldman Sachs Group lifted their price target on Jack Henry & Associates from $158.00 to $178.00 and gave the stock a "neutral" rating in a research note on Thursday, August 20th. Piper Sandler upgraded shares of Jack Henry & Associates from a "neutral" rating to an "overweight" rating and set a $175.00 price objective on the stock in a research report on Friday, October 9th. Seaport Research Partners assumed coverage on shares of Jack Henry & Associates in a research note on Monday, September 28th. They issued a "buy" rating and a $193.00 price objective on the stock. Finally, Raymond James Financial increased their price objective on shares of Jack Henry & Associates from $192.00 to $199.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.00.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY traded up $1.47 during trading on Thursday, hitting $180.63. 501,380 shares of the stock were exchanged, compared to its average volume of 1,126,973. The company has a fifty day moving average price of $156.74 and a two-hundred day moving average price of $154.53. The company has a market cap of $12.66 billion, a PE ratio of 24.86, a P/E/G ratio of 2.00 and a beta of 0.55. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.02. Jack Henry & Associates has a 12-month low of $121.04 and a 12-month high of $193.39.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $2.07 by $0.21. The business had revenue of $682.18 million for the quarter, compared to analysts' expectations of $685.54 million. Jack Henry & Associates had a return on equity of 24.38% and a net margin of 19.96%. The company's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.97 EPS. On average, analysts forecast that Jack Henry & Associates will post 7.30 EPS for the current year.

Institutional Trading of Jack Henry & Associates

Several institutional investors and hedge funds have recently made changes to their positions in JKHY. Van ECK Associates Corp boosted its holdings in Jack Henry & Associates by 1,918.2% in the second quarter. Van ECK Associates Corp now owns 1,308,353 shares of the technology company's stock valued at $180,213,000 after purchasing an additional 1,243,526 shares during the last quarter. Janus Henderson Group PLC grew its stake in Jack Henry & Associates by 13,343.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company's stock valued at $170,430,000 after purchasing an additional 1,070,376 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Jack Henry & Associates during the 2nd quarter valued at approximately $87,669,000. Epoch Investment Partners Inc. increased its holdings in Jack Henry & Associates by 82.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 681,587 shares of the technology company's stock worth $107,718,000 after purchasing an additional 307,886 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Jack Henry & Associates by 214.3% during the 1st quarter. Quantinno Capital Management LP now owns 419,286 shares of the technology company's stock worth $66,264,000 after purchasing an additional 285,893 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company that provides software, payment solutions and technology services to banks and credit unions. Its offerings are designed to support core banking operations, digital banking, account management, lending, payments, fraud prevention and other financial institution functions.

The company serves community and regional banks, credit unions and other financial services organizations in the United States. Its products are delivered through integrated platforms and services intended to help financial institutions manage daily operations, improve customer and member experiences, and connect with third-party financial technology providers.

Founded in 1976 and headquartered in Monett, Missouri, Jack Henry has expanded through internal development and acquisitions, including the 2004 acquisition of Symitar, a provider of core processing and related technology for credit unions.

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