Jack Henry & Associates (NASDAQ:JKHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

JKHY has been the subject of a number of other reports. Royal Bank of Canada reissued a “hold” rating and issued a $96.00 price objective on shares of Jack Henry & Associates in a research note on Friday, October 20th. Robert W. Baird reissued a “neutral” rating and issued a $108.00 price objective (up from $104.00) on shares of Jack Henry & Associates in a research note on Tuesday, October 10th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $112.00 price objective on shares of Jack Henry & Associates in a research note on Wednesday, November 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Jack Henry & Associates currently has a consensus rating of “Hold” and a consensus price target of $115.20.

Shares of Jack Henry & Associates (JKHY) opened at $124.79 on Thursday. Jack Henry & Associates has a twelve month low of $88.11 and a twelve month high of $125.55. The company has a market cap of $9,556.22, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 3.26 and a beta of 0.77.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.03). Jack Henry & Associates had a net margin of 17.08% and a return on equity of 23.92%. analysts predict that Jack Henry & Associates will post 3.3 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Jack Henry & Associates by 3.0% in the second quarter. Vanguard Group Inc. now owns 7,375,430 shares of the technology company’s stock worth $766,086,000 after purchasing an additional 212,291 shares in the last quarter. Capital World Investors increased its stake in shares of Jack Henry & Associates by 4.5% in the second quarter. Capital World Investors now owns 4,188,500 shares of the technology company’s stock worth $435,059,000 after purchasing an additional 180,000 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Jack Henry & Associates in the second quarter worth $372,869,000. State Street Corp increased its stake in shares of Jack Henry & Associates by 28.7% in the second quarter. State Street Corp now owns 2,673,266 shares of the technology company’s stock worth $277,675,000 after purchasing an additional 596,227 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Jack Henry & Associates by 35.3% in the second quarter. Goldman Sachs Group Inc. now owns 968,253 shares of the technology company’s stock worth $100,573,000 after purchasing an additional 252,673 shares in the last quarter. 89.04% of the stock is owned by hedge funds and other institutional investors.

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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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