Jack Henry & Associates (NASDAQ:JKHY) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Jack Henry & Associates (NASDAQ:JKHY) in a research note released on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $206.00 price objective on the technology company’s stock.

A number of other equities research analysts have also weighed in on the company. Evercore ISI raised their price objective on Jack Henry & Associates from $172.00 to $175.00 and gave the company an in-line rating in a research note on Tuesday, June 25th. StockNews.com raised Jack Henry & Associates from a hold rating to a buy rating in a report on Thursday, August 15th. Royal Bank of Canada reiterated a sector perform rating and set a $181.00 price objective on shares of Jack Henry & Associates in a research report on Friday, September 6th. Compass Point assumed coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a neutral rating and a $186.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on Jack Henry & Associates from $178.00 to $180.00 and gave the company a market perform rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $180.00.

Jack Henry & Associates Price Performance

Shares of JKHY opened at $182.14 on Tuesday. Jack Henry & Associates has a fifty-two week low of $136.57 and a fifty-two week high of $184.82. The company has a market cap of $13.28 billion, a P/E ratio of 35.16, a PEG ratio of 3.09 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average price is $171.45 and its 200 day moving average price is $168.17.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.08. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The firm had revenue of $559.91 million for the quarter, compared to analysts’ expectations of $563.37 million. During the same quarter in the previous year, the firm posted $1.34 EPS. On average, research analysts forecast that Jack Henry & Associates will post 5.82 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.20 dividend on an annualized basis and a yield of 1.21%. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 42.47%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its holdings in shares of Jack Henry & Associates by 6,680.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after buying an additional 113,696 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Jack Henry & Associates by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 212,731 shares of the technology company’s stock worth $35,318,000 after purchasing an additional 6,173 shares during the period. GLOBALT Investments LLC GA purchased a new position in shares of Jack Henry & Associates during the 4th quarter valued at $2,634,000. Norden Group LLC bought a new stake in shares of Jack Henry & Associates in the first quarter valued at approximately $1,411,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in 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 buying an additional 4,252 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

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.