Jack Henry & Associates (NASDAQ:JKHY) Raised to Buy at BidaskClub

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BidaskClub upgraded shares of Jack Henry & Associates (NASDAQ:JKHY) from a hold rating to a buy rating in a research note released on Saturday morning, BidAskClub reports.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Jack Henry & Associates from a hold rating to a sell rating in a report on Thursday, June 6th. Cantor Fitzgerald reiterated a buy rating and issued a $159.00 price objective on shares of Jack Henry & Associates in a report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods began coverage on shares of Jack Henry & Associates in a report on Monday, April 8th. They issued a market perform rating and a $145.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Jack Henry & Associates has an average rating of Buy and a consensus target price of $154.25.

Shares of JKHY opened at $133.80 on Friday. Jack Henry & Associates has a twelve month low of $120.20 and a twelve month high of $163.68. The firm has a 50 day moving average of $138.15. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 37.27, a P/E/G ratio of 3.36 and a beta of 0.91.

In other news, Director Wesley A. Brown sold 400 shares of Jack Henry & Associates stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $134.98, for a total value of $53,992.00. Following the sale, the director now directly owns 85,965 shares in the company, valued at $11,603,555.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew C. Flanigan sold 5,000 shares of Jack Henry & Associates stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $137.70, for a total transaction of $688,500.00. Following the completion of the sale, the director now owns 49,226 shares in the company, valued at $6,778,420.20. The disclosure for this sale can be found here. Insiders sold 9,221 shares of company stock worth $1,267,422 over the last quarter. 0.84% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of JKHY. Jacobson & Schmitt Advisors LLC increased its holdings in shares of Jack Henry & Associates by 3.6% in the second quarter. Jacobson & Schmitt Advisors LLC now owns 35,012 shares of the technology company’s stock valued at $4,689,000 after purchasing an additional 1,209 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in shares of Jack Henry & Associates by 13.0% in the second quarter. Great Lakes Advisors LLC now owns 7,442 shares of the technology company’s stock valued at $997,000 after purchasing an additional 855 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Jack Henry & Associates by 7.4% in the second quarter. CIBC Asset Management Inc now owns 10,180 shares of the technology company’s stock valued at $1,363,000 after purchasing an additional 705 shares during the last quarter. GWM Advisors LLC increased its holdings in shares of Jack Henry & Associates by 2.4% in the second quarter. GWM Advisors LLC now owns 93,349 shares of the technology company’s stock valued at $12,501,000 after purchasing an additional 2,218 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in shares of Jack Henry & Associates by 3.3% in the second quarter. Conestoga Capital Advisors LLC now owns 32,055 shares of the technology company’s stock valued at $4,293,000 after purchasing an additional 1,010 shares during the last quarter. Institutional investors own 89.34% of the company’s stock.

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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