Jack Henry & Associates (NASDAQ:JKHY) Stock Price Expected to Rise, UBS Group Analyst Says

Jack Henry & Associates (NASDAQ:JKHY) had its price objective upped by equities researchers at UBS Group from $180.00 to $190.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. UBS Group’s target price suggests a potential upside of 5.52% from the stock’s current price.

Several other brokerages also recently issued reports on JKHY. Oppenheimer assumed coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Compass Point assumed coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $181.00 target price on shares of Jack Henry & Associates in a report on Friday, September 6th. Finally, StockNews.com upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Jack Henry & Associates currently has an average rating of “Hold” and a consensus price target of $186.73.

Jack Henry & Associates Price Performance

Shares of JKHY traded down $0.34 during mid-day trading on Thursday, hitting $180.06. 94,678 shares of the company were exchanged, compared to its average volume of 442,638. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 34.55, a price-to-earnings-growth ratio of 3.38 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.00. Jack Henry & Associates has a 1-year low of $146.46 and a 1-year high of $189.63. The company has a 50 day moving average of $178.97 and a 200-day moving average of $170.44.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $600.98 million during the quarter, compared to analysts’ expectations of $599.56 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 EPS. Analysts expect that Jack Henry & Associates will post 5.82 EPS for the current fiscal year.

Institutional Trading of Jack Henry & Associates

Hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in Jack Henry & Associates by 6,680.1% in the second quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after purchasing an additional 113,696 shares in the last quarter. Boston Trust Walden Corp increased its stake in Jack Henry & Associates by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 212,731 shares of the technology company’s stock worth $35,318,000 after acquiring an additional 6,173 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Jack Henry & Associates by 4.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 91,114 shares of the technology company’s stock valued at $15,829,000 after purchasing an additional 4,252 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of Jack Henry & Associates by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 359,330 shares of the technology company’s stock valued at $62,426,000 after purchasing an additional 67,816 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in Jack Henry & Associates by 569.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 6,049 shares of the technology company’s stock valued at $1,051,000 after acquiring an additional 5,146 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.