Jack Henry & Associates (NASDAQ:JKHY) Stock Price Target Cut by Morgan Stanley

Jack Henry & Associates (NASDAQ:JKHY) had its target price cut by equities research analysts at Morgan Stanley from $170.00 to $158.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 8.06% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Seaport Research Partners began coverage on shares of Jack Henry & Associates in a research note on Monday. They issued a “buy” rating and a $193.00 target price for the company. Oppenheimer upped 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 report on Wednesday, August 19th. KeyCorp began coverage on Jack Henry & Associates in a report on Monday, September 14th. They set an “overweight” rating and a $190.00 target price on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $178.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, September 16th. Finally, Wolfe Research raised their price target on Jack Henry & Associates from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Jack Henry & Associates has an average rating of “Moderate Buy” and an average target price of $191.47.

Jack Henry & Associates Stock Down 1.1%

Shares of Jack Henry & Associates stock opened at $146.22 on Wednesday. The business has a fifty day simple moving average of $157.99 and a 200 day simple moving average of $150.09. The stock has a market cap of $10.25 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.56. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.02. Jack Henry & Associates has a 12 month low of $121.04 and a 12 month high of $193.39.

Jack Henry & Associates (NASDAQ:JKHY) last issued its 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 analysts’ expectations of $631.60 million. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.75 earnings per share. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. Research analysts predict that Jack Henry & Associates will post 7.33 EPS for the current year.

Hedge Funds Weigh In On Jack Henry & Associates

Institutional investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its stake in Jack Henry & Associates by 7.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,759 shares of the technology company’s stock valued at $518,000 after acquiring an additional 252 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Jack Henry & Associates by 10.5% during the 2nd quarter. Tidal Investments LLC now owns 33,060 shares of the technology company’s stock worth $4,554,000 after purchasing an additional 3,148 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Jack Henry & Associates in the 2nd quarter valued at about $5,685,000. IFP Advisors Inc lifted its stake in Jack Henry & Associates by 182.7% in the 2nd quarter. IFP Advisors Inc now owns 3,958 shares of the technology company’s stock valued at $545,000 after purchasing an additional 2,558 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Jack Henry & Associates by 962.0% during the second quarter. Squarepoint Ops LLC now owns 20,369 shares of the technology company’s stock worth $2,806,000 after purchasing an additional 18,451 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Jack Henry & Associates Company Profile

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.