Seaport Research Partners Initiates Coverage on Jack Henry & Associates (NASDAQ:JKHY)

Key Points

• Seaport Research Partners initiated coverage of Jack Henry & Associates with a “buy” rating and a $193 price target, implying 30.59% upside from the prior close.
• Analysts broadly favor the stock, with a consensus “Moderate Buy” rating and an average price target of $192.18 based on one Strong Buy, 12 Buys, and five Holds.
• Jack Henry reported quarterly EPS of $1.57, beating estimates by $0.13, while revenue rose 4.6% year over year to $633.1 million; institutional investors own 98.75% of the company.

Stock analysts at Seaport Research Partners assumed coverage on shares of Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) in a research note issued on Monday, Marketbeat Ratings reports. The firm set a "buy" rating and a $193.00 price target on the technology company's stock. Seaport Research Partners' target price would suggest a potential upside of 30.59% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Raymond James Financial raised their price target on shares of Jack Henry & Associates from $192.00 to $199.00 and gave the stock a "strong-buy" rating in a report on Wednesday, September 16th. UBS Group reissued a "neutral" rating on shares of Jack Henry & Associates in a report on Wednesday, September 16th. Stephens reissued an "overweight" rating and issued a $200.00 target price on shares of Jack Henry & Associates in a research report on Tuesday, August 11th. Barclays raised their target price on Jack Henry & Associates from $170.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. Finally, DA Davidson reiterated a "buy" rating and set a $198.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Jack Henry & Associates currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.18.

Jack Henry & Associates Price Performance

Shares of JKHY opened at $147.79 on Monday. The stock has a market capitalization of $10.36 billion, a PE ratio of 21.20, a PEG ratio of 1.68 and a beta of 0.56. The company has a 50 day moving average price of $158.15 and a 200-day moving average price of $150.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.17 and a current ratio of 1.17. Jack Henry & Associates has a fifty-two week low of $121.04 and a fifty-two week high of $193.39.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its earnings results on Tuesday, August 18th. The technology company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.13. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.The company had revenue of $633.10 million for the quarter, compared to analyst estimates of $631.60 million. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. Equities analysts predict that Jack Henry & Associates will post 7.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jack Henry & Associates

Several hedge funds have recently bought and sold shares of JKHY. Van ECK Associates Corp boosted its stake in shares of Jack Henry & Associates by 1,918.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,308,353 shares of the technology company's stock worth $180,213,000 after acquiring an additional 1,243,526 shares in the last quarter. Janus Henderson Group PLC boosted its position in Jack Henry & Associates by 13,343.0% during the first quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company's stock worth $170,430,000 after purchasing an additional 1,070,376 shares in the last quarter. Norges Bank acquired a new stake in Jack Henry & Associates in the fourth quarter valued at approximately $128,744,000. Arrowstreet Capital Limited Partnership grew its holdings in Jack Henry & Associates by 17.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 684,288 shares of the technology company's stock valued at $124,869,000 after purchasing an additional 100,619 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Jack Henry & Associates by 13.0% in the first quarter. Dimensional Fund Advisors LP now owns 752,025 shares of the technology company's stock valued at $118,842,000 after buying an additional 86,810 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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