Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Jack Henry & Associates (NASDAQ: JKHY) today and set a price target of $134. The company’s shares closed on Friday at $124.82, close to its 52-week high of $127.31.
Foresi observed:
“We rate Jack Henry, Inc. Overweight and have a 12-month price target of $134. We believe Jack Henry’s market-share gains in small U.S. banks and credit unions serve as a good foundation for the company’s growth initiatives, including the move from “In”- to “Out”-sourcing, ePayments and cross-selling opportunities. The net result should be high recurring revenue, solid mid-single-digit above-industry annual growth, with possible margin expansion and strong cash flow generation.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 18.3% and a 83.6% success rate. Foresi covers the Technology sector, focusing on stocks such as Fidelity National Info, DXC Technology Company, and Exlservice Holdings.
Jack Henry & Associates has an analyst consensus of Moderate Buy, with a price target consensus of $134.
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The company has a one-year high of $127.31 and a one-year low of $98.16. Currently, Jack Henry & Associates has an average volume of 317.4K.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock.
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Jack Henry & Associates, Inc. engages in the provision of technology solutions and payment processing services primarily for financial services organizations. It operates through the Bank Systems and Services; and Credit Union Systems and Services business segments.
