Royal Bank of Canada Boosts Jack Henry & Associates (NASDAQ:JKHY) Price Target to $203.00

Jack Henry & Associates (NASDAQ:JKHY) had its price objective lifted by analysts at Royal Bank of Canada from $181.00 to $203.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.94% from the company’s current price.

Other analysts also recently issued reports about the stock. Compass Point assumed coverage on shares of Jack Henry & Associates in a report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 target price on the stock. UBS Group boosted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday. Stephens restated an “equal weight” rating and set a $170.00 price objective on shares of Jack Henry & Associates in a report on Wednesday. Robert W. Baird boosted their price target on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $188.73.

Jack Henry & Associates Price Performance

JKHY stock traded down $0.66 during trading on Thursday, hitting $179.74. The company had a trading volume of 165,727 shares, compared to its average volume of 442,967. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 3.38 and a beta of 0.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $178.97 and a 200 day moving average of $170.44. Jack Henry & Associates has a fifty-two week low of $146.46 and a fifty-two week high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The firm had revenue of $600.98 million for the quarter, compared to analysts’ expectations of $599.56 million. During the same quarter in the previous year, the company earned $1.39 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts predict that Jack Henry & Associates will post 5.82 earnings per share for the current year.

Hedge Funds Weigh In On Jack Henry & Associates

Several hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in Jack Henry & Associates by 6,680.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock worth $19,158,000 after purchasing an additional 113,696 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Jack Henry & Associates by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 212,731 shares of the technology company’s stock valued at $35,318,000 after buying an additional 6,173 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Jack Henry & Associates by 4.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 91,114 shares of the technology company’s stock valued at $15,829,000 after purchasing an additional 4,252 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Jack Henry & Associates by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 359,330 shares of the technology company’s stock worth $62,426,000 after purchasing an additional 67,816 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in shares of Jack Henry & Associates by 569.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 6,049 shares of the technology company’s stock worth $1,051,000 after buying an additional 5,146 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.