Jack Henry & Associates (NASDAQ:JKHY) Stock Rating Upgraded by Piper Sandler

Key Points

• Piper Sandler upgraded Jack Henry & Associates to “hold.” Despite the upgrade, analysts maintain a consensus “Moderate Buy” rating with an average price target of $192.
• Jack Henry reported quarterly EPS of $1.57, beating expectations of $1.44, while revenue reached $633.1 million, up 4.6% year over year and slightly above estimates.
• The stock opened at $161.12, with a market capitalization of approximately $11.3 billion. Institutional investors own 98.75% of the company’s shares.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) was upgraded by equities research analysts at Piper Sandler to a "hold" rating in a research report issued on Thursday, Zacks reports.

A number of other equities analysts have also weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Jack Henry & Associates from $173.00 to $178.00 and gave the company an "outperform" rating in a research report on Thursday, August 20th. Barclays raised their price objective on Jack Henry & Associates from $170.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. Stephens reaffirmed an "overweight" rating and issued a $200.00 price objective on shares of Jack Henry & Associates in a research report on Tuesday, August 11th. UBS Group upped their target price on Jack Henry & Associates from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Finally, DA Davidson reiterated a "buy" rating and set a $198.00 target price on shares of Jack Henry & Associates in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $192.00.

Jack Henry & Associates Stock Down 0.2%

Shares of NASDAQ:JKHY opened at $161.12 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.02. Jack Henry & Associates has a 52-week low of $121.04 and a 52-week high of $193.39. The stock's fifty day simple moving average is $157.31 and its 200-day simple moving average is $151.24. The company has a market capitalization of $11.30 billion, a P/E ratio of 23.12, a P/E/G ratio of 1.83 and a beta of 0.56.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The technology company reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.13. The firm had revenue of $633.10 million during the quarter, compared to analysts' expectations of $631.60 million. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.The firm's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 EPS. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. As a group, equities research analysts forecast that Jack Henry & Associates will post 7.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jack Henry & Associates

A number of institutional investors have recently added to or reduced their stakes in JKHY. California State Teachers Retirement System grew its holdings in shares of Jack Henry & Associates by 6,596.8% during the 2nd quarter. California State Teachers Retirement System now owns 11,513,411 shares of the technology company's stock worth $1,585,857,000 after purchasing an additional 11,341,486 shares during the period. State Street Corp grew its stake in Jack Henry & Associates by 2.4% during the third quarter. State Street Corp now owns 4,103,290 shares of the technology company's stock worth $611,103,000 after buying an additional 97,140 shares during the period. Invesco Ltd. grew its stake in Jack Henry & Associates by 9.5% during the third quarter. Invesco Ltd. now owns 1,800,777 shares of the technology company's stock worth $268,190,000 after buying an additional 155,616 shares during the period. Wells Fargo & Company MN increased its position in shares of Jack Henry & Associates by 4.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,415,221 shares of the technology company's stock worth $258,250,000 after acquiring an additional 66,633 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Jack Henry & Associates by 160.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,350,393 shares of the technology company's stock worth $246,420,000 after acquiring an additional 831,372 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company that provides software and technology services to banks, credit unions and other financial institutions. Its solutions are designed to support core processing, digital banking, payments, lending, risk management and operational workflows.

The company's products include core banking platforms, online and mobile banking tools, payment processing services, electronic bill pay, loan origination and document management solutions, fraud prevention tools, and technology that helps financial institutions connect with third-party applications.

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