Fintel reports that on September 18, 2023, Northcoast Research upgraded their outlook for Jack Henry & Associates (NASDAQ:JKHY) from Neutral to Buy.
Analyst Price Forecast Suggests 11.94% Upside
As of August 31, 2023, the average one-year price target for Jack Henry & Associates is 172.93. The forecasts range from a low of 154.53 to a high of $205.80. The average price target represents an increase of 11.94% from its latest reported closing price of 154.49.
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The projected annual revenue for Jack Henry & Associates is 2,311MM, an increase of 11.23%. The projected annual non-GAAP EPS is 5.66.
Jack Henry & Associates Declares $0.52 Dividend
On August 21, 2023, the company declared a regular quarterly dividend of $0.52 per share ($2.08 annualized). Shareholders of record as of September 8, 2023, will receive the payment on September 28, 2023. Previously, the company paid $0.52 per share.
At the current share price of $154.49/share, the stock’s dividend yield is 1.35%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.11%, the lowest has been 0.86%, and the highest has been 1.47%. The standard deviation of yields is 0.10 (n=235).
The current dividend yield is 2.28 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.41. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.21%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1271 funds or institutions reporting positions in Jack Henry & Associates. This is a decrease of 114 owner(s) or 8.23% in the last quarter. Average portfolio weight of all funds dedicated to JKHY is 0.24%, a decrease of 10.35%. Total shares owned by institutions decreased in the last three months by 0.21% to 76,440K shares. 
The put/call ratio of JKHY is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
Kayne Anderson Rudnick Investment Management holds 3,696K shares representing 5.07% ownership of the company. In its prior filing, the firm reported owning 3,640K shares, representing an increase of 1.50%. The firm increased its portfolio allocation in JKHY by 55.01% over the last quarter.
APG Asset Management N.V. holds 3,674K shares representing 5.04% ownership of the company. In its prior filing, the firm reported owning 3,767K shares, representing a decrease of 2.53%. The firm increased its portfolio allocation in JKHY by 2.51% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,280K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 2,261K shares, representing an increase of 0.82%. The firm increased its portfolio allocation in JKHY by 3.28% over the last quarter.
Jpmorgan Chase holds 2,145K shares representing 2.94% ownership of the company. In its prior filing, the firm reported owning 1,901K shares, representing an increase of 11.38%. The firm increased its portfolio allocation in JKHY by 789.95% over the last quarter.
CIBC Private Wealth Group holds 1,918K shares representing 2.63% ownership of the company. In its prior filing, the firm reported owning 1,917K shares, representing an increase of 0.03%. The firm increased its portfolio allocation in JKHY by 273.30% over the last quarter.
Jack Henry & Associates Background Information
(This description is provided by the company.)
Jack Henry is a leading SaaS provider primarily for the financial services industry. It is an S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks. Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, it is well-positioned as a driving market force in cloud-based digital solutions and payment processing services. It empowers its clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go.
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