Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC reduced its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,672 shares of the technology company’s stock after selling 258 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Jack Henry & Associates were worth $472,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new position in Jack Henry & Associates in the second quarter valued at approximately $25,000. Tortoise Investment Management LLC boosted its holdings in shares of Jack Henry & Associates by 76.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after buying an additional 71 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of Jack Henry & Associates in the 1st quarter valued at $30,000. Blue Trust Inc. raised its stake in Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after acquiring an additional 134 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Jack Henry & Associates in the third quarter valued at $48,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research report on Thursday. Compass Point initiated coverage on 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. Stephens reiterated an “equal weight” rating and issued a $170.00 price objective on shares of Jack Henry & Associates in a research note on Wednesday. Robert W. Baird raised their target price on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, William Blair cut shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $188.73.

Jack Henry & Associates Stock Down 0.1 %

Shares of NASDAQ:JKHY opened at $179.77 on Friday. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 3.31 and a beta of 0.63. Jack Henry & Associates, Inc. has a fifty-two week low of $146.46 and a fifty-two week high of $189.63. The firm’s 50-day simple moving average is $179.26 and its 200-day simple moving average is $170.64. The company has a quick ratio of 1.00, a current ratio of 0.51 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The company had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. During the same quarter in the previous year, the company earned $1.39 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that Jack Henry & Associates, Inc. will post 5.82 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is currently 40.29%.

About Jack Henry & Associates

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.