Element Capital Management LLC Acquires Shares of 15,200 Jack Henry & Associates, Inc. $JKHY

Key Points

• Element Capital Management LLC has invested approximately $2.77 million in Jack Henry & Associates by acquiring 15,200 shares of the company during the first quarter.
• Institutional investors together own 98.75% of Jack Henry & Associates, highlighting strong interest from larger financial entities in the company's stock.
• The stock has seen a slight decline of 2.5% recently, with its current market cap at $11.60 billion and a price-to-earnings ratio of 27.13.

Element Capital Management LLC purchased a new position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,200 shares of the technology company's stock, valued at approximately $2,776,000.

Other hedge funds have also bought and sold shares of the company. Aberdeen Group plc grew its holdings in shares of Jack Henry & Associates by 93.9% during the first quarter. Aberdeen Group plc now owns 45,187 shares of the technology company's stock worth $8,209,000 after purchasing an additional 21,888 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in Jack Henry & Associates by 138.0% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 75,374 shares of the technology company's stock worth $13,763,000 after buying an additional 43,698 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Jack Henry & Associates by 3.9% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 34,366 shares of the technology company's stock valued at $6,275,000 after purchasing an additional 1,300 shares in the last quarter. Financial Network Wealth Advisors LLC grew its position in Jack Henry & Associates by 40.8% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 335 shares of the technology company's stock worth $61,000 after purchasing an additional 97 shares during the last quarter. Finally, National Pension Service boosted its holdings in shares of Jack Henry & Associates by 75.2% in the first quarter. National Pension Service now owns 268 shares of the technology company's stock valued at $49,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 98.75% of the company's stock.

Jack Henry & Associates Trading Up 0.7%

NASDAQ:JKHY traded up $1.14 during trading hours on Friday, hitting $160.39. The company had a trading volume of 814,353 shares, compared to its average volume of 673,029. The company has a 50-day moving average of $175.39 and a 200 day moving average of $175.64. Jack Henry & Associates, Inc. has a 1 year low of $157.80 and a 1 year high of $196.00. The company has a market cap of $11.68 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.90 and a beta of 0.73. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04.

Insiders Place Their Bets

In other news, Director David B. Foss sold 5,780 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $167.28, for a total value of $966,878.40. Following the completion of the sale, the director owned 139,265 shares of the company's stock, valued at $23,296,249.20. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

JKHY has been the topic of several research analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen upgraded Jack Henry & Associates from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, UBS Group dropped their price objective on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $185.11.

Jack Henry & Associates 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.