Morgan Stanley Cuts Jack Henry & Associates (NASDAQ:JKHY) Price Target to $158.00

Jack Henry & Associates (NASDAQ:JKHY) had its price target decreased by Morgan Stanley from $170.00 to $158.00 in a research note published on Wednesday morning, MarketBeat Ratings reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

A number of other brokerages have also issued reports on JKHY. Royal Bank Of Canada restated an “outperform” rating and set a $178.00 target price on shares of Jack Henry & Associates in a research report on Wednesday, September 16th. Weiss Ratings upgraded shares of Jack Henry & Associates from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Barclays raised their price objective on shares of Jack Henry & Associates from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Oppenheimer lifted their price objective on shares of Jack Henry & Associates from $208.00 to $209.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Finally, Raymond James Financial upped their target price on shares of Jack Henry & Associates from $192.00 to $199.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.47.

Jack Henry & Associates Stock Down 0.9%

Jack Henry & Associates stock opened at $142.54 on Wednesday. Jack Henry & Associates has a fifty-two week low of $121.04 and a fifty-two week high of $193.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $9.99 billion, a P/E ratio of 20.45, a PEG ratio of 1.64 and a beta of 0.56. The stock has a 50-day simple moving average of $157.68 and a 200-day simple moving average of $149.70.

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 analysts’ consensus estimates of $1.44 by $0.13. The firm had revenue of $633.10 million for 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 quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 EPS. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. Equities research analysts expect that Jack Henry & Associates will post 7.31 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Monday, September 7th were issued a dividend of $0.61 per share. The ex-dividend date was Friday, September 4th. This represents a $2.44 annualized dividend and a dividend yield of 1.7%. Jack Henry & Associates’s dividend payout ratio (DPR) is 35.01%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. CX Institutional grew its stake in Jack Henry & Associates by 43.6% in the 3rd quarter. CX Institutional now owns 859 shares of the technology company’s stock valued at $123,000 after buying an additional 261 shares during the last quarter. Versant Capital Management Inc increased its stake in Jack Henry & Associates by 70.0% during the third quarter. Versant Capital Management Inc now owns 590 shares of the technology company’s stock valued at $85,000 after acquiring an additional 243 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Jack Henry & Associates by 7.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,759 shares of the technology company’s stock valued at $518,000 after purchasing an additional 252 shares during the period. Tidal Investments LLC raised its stake in shares of Jack Henry & Associates by 10.5% in the 2nd quarter. Tidal Investments LLC now owns 33,060 shares of the technology company’s stock valued at $4,554,000 after buying an additional 3,148 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Jack Henry & Associates in the second quarter valued at about $5,685,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company that provides software, payment processing and related services to banks, credit unions and other financial institutions. Founded in 1976 and headquartered in Monett, Missouri, the company serves primarily U.S.-based community and regional financial institutions.

The company offers core processing platforms for banks and credit unions, including Jack Henry Banking and Symitar solutions. Its products and services support account processing, lending, deposit operations, financial reporting, digital banking, mobile banking and customer relationship management.

Jack Henry also provides payment processing, card services, electronic funds transfer capabilities, online account opening, cybersecurity, document and information management, business intelligence and other technology services.