Jack Henry & Associates (JKHY) Downgraded by Zacks Investment Research to “Sell”
According to Zacks, “Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States. A technology provider for the financial industry. That’s the simplest way to describe what they do. But it hardly describes what Jack Henry & Associates is really about. Jack Henry & Associates are about solutions and support. They’re about building relationships and making things work. The Company are about doing the right things for our customers, no matter what. It began as a vision, and it’s become our tradition. “
Several other equities analysts have also weighed in on JKHY. BidaskClub lowered shares of Jack Henry & Associates from a buy rating to a hold rating in a report on Wednesday, January 9th. Cantor Fitzgerald reaffirmed a buy rating and set a $163.00 target price on shares of Jack Henry & Associates in a report on Tuesday, February 5th. Wells Fargo & Co raised shares of Jack Henry & Associates from a market perform rating to an outperform rating and cut their target price for the company from $160.00 to $155.00 in a report on Thursday, February 7th. Raymond James started coverage on shares of Jack Henry & Associates in a report on Wednesday, February 20th. They set a market perform rating for the company. Finally, Keefe, Bruyette & Woods started coverage on shares of Jack Henry & Associates in a report on Monday, April 8th. They set a market perform rating and a $145.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Jack Henry & Associates currently has a consensus rating of Hold and a consensus target price of $151.20.
Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, February 5th. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.03. The firm had revenue of $386.28 million during the quarter, compared to analyst estimates of $380.40 million. Jack Henry & Associates had a net margin of 19.57% and a return on equity of 23.57%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 EPS. As a group, sell-side analysts anticipate that Jack Henry & Associates will post 3.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.11%. The ex-dividend date was Thursday, February 28th. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.37. Jack Henry & Associates’s payout ratio is presently 44.57%.
In related news, Director John F. Prim sold 7,575 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $131.91, for a total value of $999,218.25. Following the completion of the sale, the director now owns 218,491 shares of the company’s stock, valued at approximately $28,821,147.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Stacey E. Zengel sold 4,388 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $133.50, for a total transaction of $585,798.00. Following the completion of the sale, the vice president now directly owns 4,453 shares of the company’s stock, valued at approximately $594,475.50. The disclosure for this sale can be found here. In the last three months, insiders sold 14,623 shares of company stock valued at $1,945,586. 0.84% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new stake in Jack Henry & Associates in the 1st quarter worth $25,000. Retirement Systems of Alabama increased its holdings in Jack Henry & Associates by 1.0% in the 1st quarter. Retirement Systems of Alabama now owns 35,937 shares of the technology company’s stock worth $4,986,000 after acquiring an additional 369 shares in the last quarter. Scout Investments Inc. increased its holdings in Jack Henry & Associates by 43.2% in the 1st quarter. Scout Investments Inc. now owns 147,663 shares of the technology company’s stock worth $20,487,000 after acquiring an additional 44,524 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Jack Henry & Associates in the 1st quarter worth $1,560,000. Finally, TrimTabs Asset Management LLC increased its holdings in Jack Henry & Associates by 5.0% in the 1st quarter. TrimTabs Asset Management LLC now owns 10,447 shares of the technology company’s stock worth $1,449,000 after acquiring an additional 497 shares in the last quarter. 90.35% of the stock is owned by institutional investors.
About Jack Henry & Associates
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
See Also: How to Use a Moving Average for Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Jack Henry & Associates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack Henry & Associates and related companies with MarketBeat.com's FREE daily email newsletter.