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

Wall Street Zen lowered shares of Jack Henry & Associates (NASDAQ:JKHY - Free Report) from a buy rating to a hold rating in a research note published on Saturday.

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

Jack Henry & Associates Stock Down 0.1%

JKHY traded down $0.20 during trading hours on Friday, reaching $180.32. 527,634 shares of the stock traded hands, compared to its average volume of 571,055. Jack Henry & Associates has a fifty-two week low of $158.62 and a fifty-two week high of $196.00. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 2.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36. The firm's fifty day simple moving average is $179.84 and its two-hundred day simple moving average is $176.10.

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

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, May 29th. Jack Henry & Associates's dividend payout ratio (DPR) is presently 39.52%.

Institutional Trading of Jack Henry & Associates

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Jack Henry & Associates by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 8,811,373 shares of the technology company's stock worth $1,544,634,000 after buying an additional 157,360 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Jack Henry & Associates by 19.1% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,778,922 shares of the technology company's stock worth $872,631,000 after acquiring an additional 765,441 shares during the last quarter. Invesco Ltd. grew its position in shares of Jack Henry & Associates by 29.9% during the fourth quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company's stock worth $359,523,000 after acquiring an additional 471,507 shares during the last quarter. Geode Capital Management LLC boosted its stake in Jack Henry & Associates by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,990,506 shares of the technology company's stock valued at $349,796,000 after purchasing an additional 24,709 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Jack Henry & Associates by 3.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,367,002 shares of the technology company's stock worth $249,615,000 after purchasing an additional 48,311 shares during the last quarter. 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.