Jack Henry & Associates (NASDAQ:JKHY) Rating Increased to Neutral at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a sell rating to a neutral rating in a research report report published on Wednesday, Marketbeat Ratings reports. The Goldman Sachs Group currently has $183.00 target price on the technology company’s stock.

JKHY has been the topic of a number of other research reports. Wells Fargo & Company initiated coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Finally, Northcoast Research cut shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $186.45.

Jack Henry & Associates Price Performance

Shares of JKHY opened at $184.11 on Wednesday. The firm has a market capitalization of $13.42 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 3.36 and a beta of 0.65. The firm’s fifty day simple moving average is $175.24 and its 200-day simple moving average is $176.49. Jack Henry & Associates has a twelve month low of $157.00 and a twelve month high of $196.00. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03.

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

Jack Henry & Associates Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.58 per share. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.32 annualized dividend and a dividend yield of 1.26%. Jack Henry & Associates’s dividend payout ratio is 41.88%.

Hedge Funds Weigh In On Jack Henry & Associates

Several institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC grew its stake in shares of Jack Henry & Associates by 647.4% in the 4th quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Jack Henry & Associates during the third quarter worth approximately $26,000. National Pension Service acquired a new stake in shares of Jack Henry & Associates during the fourth quarter worth $27,000. ORG Partners LLC purchased a new position in Jack Henry & Associates in the 4th quarter valued at $35,000. Finally, Atala Financial Inc acquired a new position in Jack Henry & Associates in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

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.