The Zacks Investment Research Downgrades Jack Henry & Associates Inc. (JKHY) to Sell

The Zacks Investment Research Downgrades Jack Henry & Associates Inc. (JKHY) to Sell

Jack Henry & Associates Inc. (NASDAQ:JKHY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

Other equities analysts have also recently issued research reports about the stock. Citigroup Inc. cut shares of Jack Henry & Associates from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 24th. Oppenheimer Holdings Inc. cut shares of Jack Henry & Associates from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 24th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $91.00.

Shares of Jack Henry & Associates (NASDAQ:JKHY) opened at 82.69 on Tuesday. The company has a 50 day moving average price of $86.19 and a 200 day moving average price of $85.47. The company has a market capitalization of $6.49 billion, a PE ratio of 26.50 and a beta of 0.68. Jack Henry & Associates has a 52 week low of $73.03 and a 52 week high of $89.89.

Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, August 16th. The company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.26. Jack Henry & Associates had a net margin of 18.37% and a return on equity of 26.11%. The firm had revenue of $367 million for the quarter, compared to analysts’ expectations of $355.40 million. During the same quarter last year, the firm earned $0.75 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that Jack Henry & Associates will post $3.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 27th. Stockholders of record on Wednesday, September 7th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.35%. Jack Henry & Associates’s payout ratio is currently 35.90%.

In other news, VP Mark S. Forbis sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $86.75, for a total transaction of $260,250.00. Following the completion of the sale, the vice president now owns 1,936 shares in the company, valued at approximately $167,948. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin D. Williams sold 31,802 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $86.14, for a total transaction of $2,739,424.28. Following the sale, the insider now owns 55,274 shares of the company’s stock, valued at approximately $4,761,302.36. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Several large investors have recently modified their holdings of JKHY. Genesee Valley Trust Co. bought a new stake in shares of Jack Henry & Associates during the third quarter valued at about $277,000. Atria Investments LLC acquired a new position in Jack Henry & Associates during the third quarter worth $218,000. Creative Planning raised its position in Jack Henry & Associates by 16.2% in the third quarter. Creative Planning now owns 6,601 shares of the company’s stock worth $565,000 after buying an additional 921 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Jack Henry & Associates by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 27,546 shares of the company’s stock worth $2,357,000 after buying an additional 544 shares in the last quarter. Finally, McQueen Ball & Associates Inc. raised its position in Jack Henry & Associates by 0.3% in the third quarter. McQueen Ball & Associates Inc. now owns 8,885 shares of the company’s stock worth $760,000 after buying an additional 29 shares in the last quarter. Institutional investors own 86.94% 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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