Zacks Investment Research downgraded shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

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. “

A number of other equities analysts also recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Jack Henry & Associates in a report on Monday. They set an overweight rating and a $112.00 target price on the stock. BidaskClub downgraded shares of Jack Henry & Associates from a strong-buy rating to a buy rating in a report on Saturday, August 19th. Finally, Stephens restated an equal weight rating and set a $97.00 target price (up from $93.00) on shares of Jack Henry & Associates in a report on Friday, August 18th.

Jack Henry & Associates (NASDAQ JKHY) opened at 103.07 on Tuesday. Jack Henry & Associates has a 1-year low of $79.00 and a 1-year high of $109.67. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 32.82 and a beta of 0.75. The company has a 50-day moving average of $104.28 and a 200-day moving average of $99.70.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, August 15th. The technology company reported $0.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.83. The business had revenue of $383.77 million for the quarter, compared to the consensus estimate of $372.98 million. Jack Henry & Associates had a net margin of 17.17% and a return on equity of 24.65%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.06 earnings per share. On average, equities analysts predict that Jack Henry & Associates will post $3.28 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 8th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.24 annualized dividend and a dividend yield of 1.20%. Jack Henry & Associates’s dividend payout ratio is currently 39.49%.

In other Jack Henry & Associates news, insider John F. Prim sold 9,650 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $103.89, for a total value of $1,002,538.50. Following the transaction, the insider now directly owns 206,164 shares in the company, valued at $21,418,377.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.80% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. YorkBridge Wealth Partners LLC increased its position in Jack Henry & Associates by 21.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,043 shares of the technology company’s stock valued at $102,000 after buying an additional 185 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Jack Henry & Associates during the second quarter valued at approximately $114,000. Parallel Advisors LLC increased its position in Jack Henry & Associates by 43.3% in the first quarter. Parallel Advisors LLC now owns 1,108 shares of the technology company’s stock valued at $108,000 after buying an additional 335 shares in the last quarter. TrimTabs Asset Management LLC increased its position in Jack Henry & Associates by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,225 shares of the technology company’s stock valued at $114,000 after buying an additional 576 shares in the last quarter. Finally, IFP Advisors Inc increased its position in Jack Henry & Associates by 40.6% in the second quarter. IFP Advisors Inc now owns 1,312 shares of the technology company’s stock valued at $136,000 after buying an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a provider of information processing solutions for community banks. The Company offers a range of products and services, including processing transactions, automating business processes, and managing information financial institutions and diverse corporate entities. It operates in two segments: bank systems and services (Bank) and credit union systems and services (Credit Union).

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