Jack Henry & Associates’ (JKHY) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of Jack Henry & Associates (NASDAQ:JKHY) in a research report released on Wednesday,Benzinga reports. The firm currently has a $178.00 target price on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays upped their target price on Jack Henry & Associates from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Stephens reissued an “overweight” rating and issued a $200.00 price target on shares of Jack Henry & Associates in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Jack Henry & Associates from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. DA Davidson reaffirmed a “buy” rating and set a $198.00 price objective on shares of Jack Henry & Associates in a report on Wednesday, September 2nd. Finally, UBS Group raised their target price on shares of Jack Henry & Associates from $165.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.18.

Jack Henry & Associates Price Performance

NASDAQ JKHY opened at $154.85 on Wednesday. Jack Henry & Associates has a fifty-two week low of $121.04 and a fifty-two week high of $193.39. The stock’s 50-day moving average is $158.26 and its two-hundred day moving average is $151.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $10.86 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 1.78 and a beta of 0.56.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.13. The company had revenue of $633.10 million during the quarter, compared to the consensus estimate of $631.60 million. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.75 EPS. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. On average, analysts anticipate that Jack Henry & Associates will post 7.33 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Monday, September 7th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.44 dividend on an annualized basis and a yield of 1.6%. Jack Henry & Associates’s dividend payout ratio (DPR) is 35.01%.

Hedge Funds Weigh In On Jack Henry & Associates

Several large investors have recently added to or reduced their stakes in JKHY. Van ECK Associates Corp grew its stake in shares of Jack Henry & Associates by 1,918.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,308,353 shares of the technology company’s stock valued at $180,213,000 after purchasing an additional 1,243,526 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Jack Henry & Associates by 13,343.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company’s stock worth $170,430,000 after buying an additional 1,070,376 shares in the last quarter. Norges Bank bought a new position in shares of Jack Henry & Associates during the 4th quarter worth approximately $128,744,000. Bank of New York Mellon Corp bought a new position in shares of Jack Henry & Associates during the 2nd quarter worth approximately $87,669,000. Finally, Epoch Investment Partners Inc. boosted its stake in Jack Henry & Associates by 82.4% in the 1st quarter. Epoch Investment Partners Inc. now owns 681,587 shares of the technology company’s stock valued at $107,718,000 after buying an additional 307,886 shares in the last quarter. 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 that provides software and technology services to banks, credit unions and other financial institutions. Its solutions are designed to support core processing, digital banking, payments, lending, risk management and operational workflows.

The company’s products include core banking platforms, online and mobile banking tools, payment processing services, electronic bill pay, loan origination and document management solutions, fraud prevention tools, and technology that helps financial institutions connect with third-party applications.