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 topic of a number of other reports. Wells Fargo & Co raised shares of Jack Henry & Associates from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $160.00 to $155.00 in a research note on Thursday, February 7th. Raymond James assumed coverage on Jack Henry & Associates in a report on Wednesday, February 20th. They issued a “market perform” rating for the company. Cantor Fitzgerald restated a “buy” rating and issued a $163.00 price target on shares of Jack Henry & Associates in a report on Tuesday, February 5th. BidaskClub upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. Finally, Keefe, Bruyette & Woods initiated coverage on Jack Henry & Associates in a report on Monday, April 8th. They set a “market perform” rating and a $145.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $148.60.
Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. Jack Henry & Associates had a net margin of 18.79% and a return on equity of 22.06%. The business had revenue of $380.36 million for the quarter, compared to analysts’ expectations of $382.45 million. During the same period in the prior year, the company posted $0.89 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Jack Henry & Associates will post 3.57 EPS for the current fiscal year.
In related news, VP Russell L. Bernthal sold 910 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $137.56, for a total transaction of $125,179.60. Following the completion of the transaction, the vice president now directly owns 4,831 shares of the company’s stock, valued at $664,552.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stacey E. Zengel sold 4,388 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $133.50, for a total value of $585,798.00. Following the transaction, the vice president now directly owns 4,453 shares of the company’s stock, valued at $594,475.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,623 shares of company stock valued at $1,945,586. 0.84% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cutler Group LP acquired a new stake in shares of Jack Henry & Associates in the fourth quarter valued at approximately $25,000. Flagship Harbor Advisors LLC bought a new position in shares of Jack Henry & Associates during the first quarter worth approximately $25,000. Sun Life Financial INC bought a new position in shares of Jack Henry & Associates during the fourth quarter worth approximately $27,000. Executive Wealth Management LLC bought a new position in shares of Jack Henry & Associates during the fourth quarter worth approximately $27,000. Finally, Guardian Life Insurance Co. of America bought a new position in shares of Jack Henry & Associates during the fourth quarter worth approximately $28,000. 90.33% of the stock is owned by hedge funds and other institutional investors.
About Jack Henry & Associates
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
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