Wells Fargo & Company Begins Coverage on Jack Henry & Associates (NASDAQ:JKHY)

Wells Fargo & Company started coverage on shares of Jack Henry & Associates (NASDAQ:JKHY - Free Report) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm issued an underweight rating and a $155.00 price objective on the technology company's stock.

JKHY has been the subject of a number of other research reports. Robert W. Baird increased their target price on Jack Henry & Associates from $186.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Oppenheimer assumed coverage on Jack Henry & Associates in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $206.00 price target on the stock. William Blair downgraded shares of Jack Henry & Associates from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a "market perform" rating in a research note on Thursday, November 7th. Finally, UBS Group lifted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $185.91.

Jack Henry & Associates Stock Down 0.5 %

JKHY stock traded down $0.88 on Tuesday, hitting $172.37. 795,742 shares of the company's stock were exchanged, compared to its average volume of 577,480. The stock has a market cap of $12.58 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $175.05 and a two-hundred day moving average price of $173.82. Jack Henry & Associates has a 12-month low of $157.00 and a 12-month high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The company had revenue of $600.98 million during the quarter, compared to analysts' expectations of $599.56 million. During the same quarter in the previous year, the firm posted $1.39 EPS. The firm's revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Jack Henry & Associates will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd were given a dividend of $0.55 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.28%. Jack Henry & Associates's payout ratio is currently 40.29%.

Insider Activity at Jack Henry & Associates

In other news, insider David B. Foss sold 18,770 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the transaction, the insider now owns 138,665 shares in the company, valued at $23,756,087.80. This trade represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.37% of the stock is owned by insiders.

Institutional Trading of Jack Henry & Associates

Several institutional investors and hedge funds have recently modified their holdings of JKHY. State Street Corp lifted its position in Jack Henry & Associates by 1.7% during the third quarter. State Street Corp now owns 3,976,658 shares of the technology company's stock worth $702,039,000 after buying an additional 67,716 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Jack Henry & Associates by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,958,305 shares of the technology company's stock valued at $657,158,000 after acquiring an additional 67,386 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Jack Henry & Associates by 7.9% during the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company's stock worth $316,326,000 after purchasing an additional 131,515 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Jack Henry & Associates by 8.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 863,800 shares of the technology company's stock valued at $152,495,000 after acquiring an additional 66,600 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Jack Henry & Associates by 50.8% in the 4th quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company's stock worth $136,720,000 after buying an additional 263,021 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.