Jack Henry & Associates, Inc. (NASDAQ:JKHY) Short Interest Down 7.0% in August

Posted by on Sep 20th, 2023

Jack Henry & Associates, Inc. (NASDAQ:JKHY – Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,780,000 shares, a drop of 7.0% from the August 15th total of 2,990,000 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average daily trading volume, of 517,800 shares, the days-to-cover ratio is presently 5.4 days.

Jack Henry & Associates Trading Down 1.6 %

NASDAQ:JKHY opened at $152.69 on Wednesday. The stock has a fifty day moving average price of $162.78 and a two-hundred day moving average price of $158.00. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.20 and a current ratio of 1.20. Jack Henry & Associates has a 1 year low of $139.28 and a 1 year high of $202.66.

Jack Henry & Associates (NASDAQ:JKHY – Get Free Report) last released its quarterly earnings data on Wednesday, August 16th. The technology company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.15. Jack Henry & Associates had a return on equity of 23.97% and a net margin of 17.65%. The firm had revenue of $534.63 million during the quarter, compared to analysts’ expectations of $512.78 million. During the same quarter in the prior year, the business posted $1.10 earnings per share. Jack Henry & Associates’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Jack Henry & Associates will post 4.97 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 7th. Jack Henry & Associates’s dividend payout ratio is currently 41.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in JKHY. Catalyst Capital Advisors LLC purchased a new position in shares of Jack Henry & Associates in the second quarter valued at $27,000. Capital Advisors Ltd. LLC purchased a new position in shares of Jack Henry & Associates in the second quarter valued at $40,000. KB Financial Partners LLC acquired a new stake in shares of Jack Henry & Associates during the first quarter valued at $52,000. Eagle Bay Advisors LLC boosted its stake in shares of Jack Henry & Associates by 23.9% during the first quarter. Eagle Bay Advisors LLC now owns 908 shares of the technology company’s stock valued at $54,000 after acquiring an additional 175 shares during the last quarter. Finally, Platinum Investment Management Ltd. acquired a new stake in shares of Jack Henry & Associates during the first quarter valued at $58,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. DA Davidson decreased their price objective on Jack Henry & Associates from $180.00 to $174.00 in a report on Thursday, August 17th. Robert W. Baird decreased their price objective on Jack Henry & Associates from $176.00 to $164.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. StockNews.com assumed coverage on Jack Henry & Associates in a report on Thursday, August 17th. They issued a “hold” rating for the company. The Goldman Sachs Group assumed coverage on Jack Henry & Associates in a report on Wednesday, July 12th. They issued a “neutral” rating and a $173.00 price objective for the company. Finally, Oppenheimer upped their price target on Jack Henry & Associates from $176.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $174.00.

Get Our Latest Analysis on Jack Henry & Associates

About Jack Henry & Associates

(Get Free Report)

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.

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