Jack Henry & Associates' (JKHY) Buy Rating Reaffirmed at DA Davidson

Key Points

• DA Davidson has reaffirmed a "buy" rating for Jack Henry & Associates (JKHY) and set a target price of $212.00, indicating a potential upside of 31.63%.
• Analysts' sentiments differ, with Keefe, Bruyette & Woods reducing their target from $190.00 to $183.00 and Wall Street Zen upgrading it from "hold" to "buy," resulting in a consensus rating of "Hold" with an average target price of $187.80.
• Jack Henry & Associates' stock has seen a minor increase of 0.4% recently, trading at $161.06, with a market capitalization of $11.73 billion.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at DA Davidson in a report issued on Monday,Benzinga reports. They currently have a $212.00 target price on the technology company's stock. DA Davidson's price objective would indicate a potential upside of 31.63% from the stock's previous close.

Several other analysts also recently weighed in on the company. Keefe, Bruyette & Woods dropped their price target on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen upgraded Jack Henry & Associates from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, UBS Group dropped their price target on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Jack Henry & Associates has a consensus rating of "Hold" and an average target price of $187.80.

Jack Henry & Associates Stock Up 0.4%

JKHY traded up $0.67 on Monday, hitting $161.06. The company had a trading volume of 152,936 shares, compared to its average volume of 626,480. The stock has a fifty day moving average price of $175.39 and a 200-day moving average price of $175.64. Jack Henry & Associates has a 12-month low of $157.80 and a 12-month high of $196.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 2.90 and a beta of 0.73.

Insider Activity

In related news, Director David B. Foss sold 5,780 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $167.28, for a total value of $966,878.40. Following the completion of the transaction, the director owned 139,265 shares of the company's stock, valued at approximately $23,296,249.20. This represents a 3.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by insiders.

Institutional Trading of Jack Henry & Associates

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new stake in shares of Jack Henry & Associates during the second quarter worth about $35,000. Goodman Advisory Group LLC purchased a new stake in shares of Jack Henry & Associates during the second quarter worth about $477,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Jack Henry & Associates by 7.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 55,161 shares of the technology company's stock worth $9,947,000 after purchasing an additional 3,660 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Jack Henry & Associates during the second quarter worth about $39,000. Finally, State of Tennessee Department of Treasury lifted its stake in shares of Jack Henry & Associates by 41.9% in the second quarter. State of Tennessee Department of Treasury now owns 25,243 shares of the technology company's stock worth $4,548,000 after buying an additional 7,457 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, 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.

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