In a report released today, Glenn Greene from Oppenheimer maintained a Hold rating on Jack Henry & Associates (NASDAQ: JKHY). The company’s shares closed yesterday at $121.80.
Greene noted:
“At its Day, JKHY provided insight into its current business strategy, industry trends, and future growth opportunities. JKHY’s longer-term outlook remains encouraging. The bank/credit union spending environments appear modestly improved and sales trends remain healthy. Also, JKHY’s competitive position within its target markets appears as strong as ever. JKHY should continue to benefit from the shift toward outsourcing, as 52/41% of its CU/banking customers remain in-house. We also expect payments and digital channels to drive future growth. While early, management provided preliminary FY19 commentary, suggesting ~6-7% revenue growth with flattish operating margins (we modeled more conservative on revenue growth). We maintain our estimates and Perform rating.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 21.2% and a 85.1% success rate. Greene covers the Technology sector, focusing on stocks such as Fidelity National Info, Total System Services, and Global Payments Inc.
Jack Henry & Associates has an analyst consensus of Moderate Buy, with a price target consensus of $125.50.
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Based on Jack Henry & Associates’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $72.4 million. In comparison, last year the company had a net profit of $60.04 million.
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.
