Exchange Traded Concepts LLC Makes New $68,000 Investment in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Exchange Traded Concepts LLC acquired a new position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) during the third quarter, Holdings Channel reports. The fund acquired 383 shares of the technology company’s stock, valued at approximately $68,000.

A number of other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Jack Henry & Associates by 188.4% in the 2nd quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock worth $46,819,000 after buying an additional 184,210 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Jack Henry & Associates by 51.4% during the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock valued at $83,665,000 after purchasing an additional 171,041 shares during the last quarter. TD Asset Management Inc lifted its holdings in Jack Henry & Associates by 25.6% during the first quarter. TD Asset Management Inc now owns 684,363 shares of the technology company’s stock valued at $118,894,000 after purchasing an additional 139,582 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Jack Henry & Associates by 6,680.1% during the second quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock valued at $19,158,000 after purchasing an additional 113,696 shares during the last quarter. Finally, Tandem Investment Advisors Inc. increased its position in shares of Jack Henry & Associates by 20.4% during the second quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock valued at $83,496,000 after buying an additional 85,175 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, August 22nd. StockNews.com upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $181.00 price target on shares of Jack Henry & Associates in a research report on Friday, September 6th. Compass Point began coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. Finally, Oppenheimer began coverage on Jack Henry & Associates in a research note on Tuesday, October 1st. They set an “outperform” rating and a $206.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Jack Henry & Associates currently has an average rating of “Hold” and an average price target of $187.11.

Jack Henry & Associates Price Performance

JKHY opened at $184.42 on Thursday. The stock has a fifty day simple moving average of $175.69 and a two-hundred day simple moving average of $169.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 35.60, a price-to-earnings-growth ratio of 3.35 and a beta of 0.64. Jack Henry & Associates, Inc. has a 12-month low of $136.57 and a 12-month high of $186.93.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. The firm had revenue of $559.91 million during the quarter, compared to the consensus estimate of $563.37 million. During the same period last year, the company earned $1.34 earnings per share. Research analysts predict that Jack Henry & Associates, Inc. will post 5.82 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.20 annualized dividend and a dividend yield of 1.19%. Jack Henry & Associates’s payout ratio is presently 42.47%.

Jack Henry & Associates Profile

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.