Jack Henry & Associates (NASDAQ:JKHY) Raised to "Buy" at Wall Street Zen

Key Points

• Jack Henry & Associates has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen.
• Despite the upgrade, UBS Group and Keefe, Bruyette & Woods have lowered their target prices to $185.00 and $183.00, respectively.
• Jack Henry & Associates reported earnings of $1.52 per share for the latest quarter, exceeding analyst expectations and reflecting an 8.6% year-over-year revenue increase.

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

Several other analysts also recently commented on JKHY. UBS Group dropped their target price on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Keefe, Bruyette & Woods dropped their target price on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Jack Henry & Associates has an average rating of "Hold" and a consensus price target of $185.11.

Jack Henry & Associates Stock Performance

Shares of NASDAQ:JKHY opened at $167.28 on Friday. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 28.50 and a beta of 0.74. The firm's 50 day simple moving average is $179.07 and its 200 day simple moving average is $176.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36. Jack Henry & Associates has a fifty-two week low of $160.23 and a fifty-two week high of $196.00.

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

Institutional Trading of Jack Henry & Associates

Hedge funds and other institutional investors have recently made changes to their positions in the business. Axxcess Wealth Management LLC raised its stake in Jack Henry & Associates by 2.3% during the first quarter. Axxcess Wealth Management LLC now owns 2,622 shares of the technology company's stock worth $479,000 after acquiring an additional 59 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in Jack Henry & Associates by 2.1% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,115 shares of the technology company's stock worth $569,000 after acquiring an additional 64 shares in the last quarter. Strengthening Families & Communities LLC raised its stake in Jack Henry & Associates by 12.1% during the first quarter. Strengthening Families & Communities LLC now owns 632 shares of the technology company's stock worth $105,000 after acquiring an additional 68 shares in the last quarter. Blue Trust Inc. raised its stake in Jack Henry & Associates by 11.3% during the second quarter. Blue Trust Inc. now owns 670 shares of the technology company's stock worth $121,000 after acquiring an additional 68 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in Jack Henry & Associates by 49.0% during the second quarter. Private Trust Co. NA now owns 216 shares of the technology company's stock worth $39,000 after acquiring an additional 71 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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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