Jack Henry & Associates’ (JKHY) “Overweight” Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of Jack Henry & Associates (NASDAQ:JKHY) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $200.00 price target on the technology company’s stock.

A number of other equities analysts have also issued reports on JKHY. Weiss Ratings lowered shares of Jack Henry & Associates from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Barclays initiated coverage on shares of Jack Henry & Associates in a research report on Tuesday, July 7th. They set an “overweight” rating and a $170.00 price target on the stock. Wolfe Research set a $165.00 price target on shares of Jack Henry & Associates in a research note on Monday, June 29th. Royal Bank Of Canada decreased their price objective on shares of Jack Henry & Associates from $180.00 to $173.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Finally, UBS Group set a $165.00 price objective on shares of Jack Henry & Associates in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.71.

Jack Henry & Associates Price Performance

Shares of NASDAQ JKHY opened at $155.86 on Tuesday. Jack Henry & Associates has a fifty-two week low of $121.04 and a fifty-two week high of $193.39. The firm’s 50-day simple moving average is $143.37 and its 200 day simple moving average is $151.85. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The stock has a market cap of $11.07 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.14 and a beta of 0.55.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its holdings in Jack Henry & Associates by 21.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,102 shares of the technology company’s stock valued at $384,000 after acquiring an additional 367 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Jack Henry & Associates by 8.8% in the 1st quarter. Empowered Funds LLC now owns 7,184 shares of the technology company’s stock worth $1,312,000 after purchasing an additional 584 shares during the last quarter. Woodline Partners LP grew its stake in shares of Jack Henry & Associates by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,159 shares of the technology company’s stock worth $1,125,000 after purchasing an additional 1,778 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Jack Henry & Associates in the 1st quarter worth approximately $9,430,000. Finally, Focus Partners Wealth raised its holdings in shares of Jack Henry & Associates by 15.1% in the 1st quarter. Focus Partners Wealth now owns 1,387 shares of the technology company’s stock worth $253,000 after purchasing an additional 182 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company’s core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.