Jack Henry & Associates Receives a Rating Update from a Top Analyst

In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Jack Henry & Associates (NASDAQ: JKHY), with a price target of $134. The company’s shares opened today at $121.80.

Foresi commented:

“Catalysts in place. The demand environment is improving on an annual basis, serving as a tailwind. JKHY continues to move up stream, with 144 banks with multi-billion-dollar asset bases in 2018 vs. 26 in 2001. Payments remains a focus and opportunity (FDC/PSCU partnership-53 live clients). Customers continue to shift to outsourcing (54% of customers) from insourcing. In-to-outsourcing has had 39 sales (22 credit unions; 17 banks) YTD in FY18 versus 50 in FY17 (32 credit unions; 18 banks). Outsourcing is a natural extension because of a lack of customers’ in-house talent and bank customer demand.”

According to TipRanks.com, Foresi is a top 25 analyst with an average return of 16.6% and a 82.0% 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 $125.50.

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The company has a one-year high of $127.31 and a one-year low of $95.04. Currently, Jack Henry & Associates has an average volume of 332.7K.

Based on the recent corporate insider activity of 30 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.