Jack Henry & Associates (NASDAQ:JKHY) Cut to Neutral at Northcoast Research

Northcoast Research downgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a buy rating to a neutral rating in a research note published on Monday morning, Marketbeat.com reports.

Several other analysts have also weighed in on JKHY. Wells Fargo & Company initiated coverage on shares of Jack Henry & Associates in a research report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 target price on the stock. StockNews.com lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $186.80.

Jack Henry & Associates Stock Performance

NASDAQ:JKHY opened at $173.14 on Monday. The firm’s 50-day moving average is $173.74 and its 200-day moving average is $176.01. Jack Henry & Associates has a 52-week low of $157.00 and a 52-week high of $196.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 3.36 and a beta of 0.65.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. Equities research analysts anticipate that Jack Henry & Associates will post 5.83 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, March 6th. Jack Henry & Associates’s dividend payout ratio is presently 41.88%.

Hedge Funds Weigh In On Jack Henry & Associates

A number of large investors have recently modified their holdings of the stock. D.A. Davidson & CO. lifted its position in shares of Jack Henry & Associates by 1.2% during the third quarter. D.A. Davidson & CO. now owns 4,969 shares of the technology company’s stock worth $877,000 after purchasing an additional 61 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Jack Henry & Associates by 0.7% during the third quarter. Townsquare Capital LLC now owns 9,601 shares of the technology company’s stock worth $1,695,000 after purchasing an additional 67 shares in the last quarter. Willis Investment Counsel lifted its position in shares of Jack Henry & Associates by 1.9% during the fourth quarter. Willis Investment Counsel now owns 3,650 shares of the technology company’s stock worth $640,000 after purchasing an additional 68 shares in the last quarter. Torray Investment Partners LLC lifted its position in shares of Jack Henry & Associates by 0.7% during the fourth quarter. Torray Investment Partners LLC now owns 10,446 shares of the technology company’s stock worth $1,831,000 after purchasing an additional 76 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV lifted its position in shares of Jack Henry & Associates by 1.1% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 7,062 shares of the technology company’s stock worth $1,238,000 after purchasing an additional 77 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.