Jack Henry & Associates (NASDAQ:JKHY) Cut to Hold at Wall Street Zen

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

JKHY has been the topic of several other research reports. The Goldman Sachs Group raised Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price target on the stock in a research note on Wednesday, April 2nd. UBS Group cut 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. Finally, Keefe, Bruyette & Woods cut their target price 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $185.11.

Jack Henry & Associates Price Performance

Shares of JKHY stock traded down $0.07 during trading hours on Monday, hitting $180.52. 126,928 shares of the company's stock were exchanged, compared to its average volume of 572,779. The stock's 50-day moving average is $180.21 and its 200-day moving average is $176.22. 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 stock has a market cap of $13.15 billion, a price-to-earnings ratio of 30.78 and a beta of 0.72. Jack Henry & Associates has a 52 week low of $160.23 and a 52 week high of $196.00.

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

Institutional Investors Weigh In On Jack Henry & Associates

Large investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Jack Henry & Associates by 19.1% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,778,922 shares of the technology company's stock valued at $872,631,000 after purchasing an additional 765,441 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Jack Henry & Associates by 95.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company's stock valued at $229,057,000 after purchasing an additional 643,697 shares in the last quarter. Invesco Ltd. grew its stake in Jack Henry & Associates by 29.9% in the fourth quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company's stock valued at $359,523,000 after purchasing an additional 471,507 shares in the last quarter. GAMMA Investing LLC grew its stake in Jack Henry & Associates by 19,937.4% in the first quarter. GAMMA Investing LLC now owns 467,273 shares of the technology company's stock valued at $853,240,000 after purchasing an additional 464,941 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Jack Henry & Associates by 170.6% in the fourth quarter. Deutsche Bank AG now owns 583,444 shares of the technology company's stock valued at $102,278,000 after purchasing an additional 367,806 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

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.