Jack Henry & Associates (NASDAQ:JKHY) Lowered to "Hold" Rating by Wall Street Zen

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Several other research firms also recently weighed in on JKHY. The Goldman Sachs Group upgraded shares of Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price target for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a research note on Thursday, May 8th. Northcoast Research cut shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research note on Monday, March 10th. Finally, UBS Group dropped their price objective on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $185.11.

Jack Henry & Associates Stock Up 1.1%

JKHY opened at $181.41 on Friday. Jack Henry & Associates has a twelve month low of $158.62 and a twelve month high of $196.00. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $179.50 and a 200 day moving average price of $176.04. The company has a market cap of $13.21 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 2.93 and a beta of 0.72.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.23. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The firm had revenue of $585.09 million during the quarter, compared to the consensus estimate of $585.84 million. During the same quarter in the prior year, the firm earned $1.19 EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts expect that Jack Henry & Associates will post 5.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jack Henry & Associates

Hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Jack Henry & Associates by 19.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,778,922 shares of the technology company's stock worth $872,631,000 after buying an additional 765,441 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Jack Henry & Associates during the 4th quarter worth approximately $132,817,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Jack Henry & Associates by 95.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company's stock worth $229,057,000 after buying an additional 643,697 shares in the last quarter. Invesco Ltd. lifted its holdings in Jack Henry & Associates by 29.9% during the 4th quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company's stock worth $359,523,000 after buying an additional 471,507 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Jack Henry & Associates by 19,937.4% during the 1st quarter. GAMMA Investing LLC now owns 467,273 shares of the technology company's stock worth $853,240,000 after buying an additional 464,941 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Jack Henry & Associates Company Profile

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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