Jack Henry & Associates, Inc. (NASDAQ:JKHY) Announces Dividend Increase – $0.58 Per Share

Jack Henry & Associates, Inc. (NASDAQ:JKHY) declared a quarterly dividend on Friday, February 7th, RTT News reports. Shareholders of record on Thursday, March 6th will be given a dividend of 0.58 per share by the technology company on Tuesday, March 25th. This represents a $2.32 annualized dividend and a yield of 1.30%. The ex-dividend date is Thursday, March 6th. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.55.

Jack Henry & Associates has increased its dividend by an average of 6.1% per year over the last three years and has increased its dividend every year for the last 35 years. Jack Henry & Associates has a dividend payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Jack Henry & Associates to earn $6.26 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 37.1%.

Jack Henry & Associates Stock Performance

JKHY opened at $178.00 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The company has a market cap of $12.98 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 3.36 and a beta of 0.61. Jack Henry & Associates has a 52-week low of $157.00 and a 52-week high of $189.63. The firm’s fifty day simple moving average is $173.03 and its two-hundred day simple moving average is $175.27.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. Equities analysts anticipate that Jack Henry & Associates will post 5.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JKHY. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. StockNews.com cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods increased their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company assumed coverage on shares of Jack Henry & Associates in a research report on Tuesday, January 14th. They set an “underweight” rating and a $155.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $186.80.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.