Jack Henry & Associates (NASDAQ:JKHY) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Jack Henry & Associates (NASDAQ:JKHY) posted its quarterly earnings data on Tuesday. The technology company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.06, FiscalAI reports. The business had revenue of $682.18 million during the quarter, compared to analyst estimates of $685.54 million. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.

Jack Henry & Associates Price Performance

NASDAQ JKHY traded down $1.76 during trading hours on Tuesday, hitting $161.66. 1,010,797 shares of the company’s stock traded hands, compared to its average volume of 1,128,377. The firm’s 50-day moving average is $156.81 and its 200-day moving average is $154.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $11.33 billion, a PE ratio of 23.19, a PEG ratio of 1.96 and a beta of 0.56. Jack Henry & Associates has a 52-week low of $121.04 and a 52-week high of $193.39.

Jack Henry & Associates Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Monday, September 7th were issued a $0.61 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.44 dividend on an annualized basis and a yield of 1.5%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 35.01%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $178.00 price target on shares of Jack Henry & Associates in a research note on Wednesday, September 30th. Raymond James Financial increased their price target on shares of Jack Henry & Associates from $192.00 to $199.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 16th. Seaport Research Partners started coverage on Jack Henry & Associates in a research report on Monday, September 28th. They issued a “buy” rating and a $193.00 price objective for the company. Bank of America assumed coverage on shares of Jack Henry & Associates in a research note on Thursday, October 15th. They set a “neutral” rating and a $165.00 price target on the stock. Finally, Piper Sandler upgraded Jack Henry & Associates from a “neutral” rating to an “overweight” rating and set a $175.00 price objective for the company in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $190.00.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company that provides software, payment solutions and technology services to banks and credit unions. Its offerings are designed to support core banking operations, digital banking, account management, lending, payments, fraud prevention and other financial institution functions.

The company serves community and regional banks, credit unions and other financial services organizations in the United States. Its products are delivered through integrated platforms and services intended to help financial institutions manage daily operations, improve customer and member experiences, and connect with third-party financial technology providers.

Founded in 1976 and headquartered in Monett, Missouri, Jack Henry has expanded through internal development and acquisitions, including the 2004 acquisition of Symitar, a provider of core processing and related technology for credit unions.