In a report released today, Glenn Greene from Oppenheimer maintained a Hold rating on Jack Henry & Associates (JKHY). The company’s shares opened today at $136.98.
Greene observed:
“At its Day, JKHY provided insight into its current business strategy and future growth opportunities. JKHY’s outlook remains encouraging as it continues to expect 6-7% organic growth in FY20, largely driven by outsourcing/payments, new products and cross-sells. The selling environment remains healthy and JKHY realized notably strong YTD sales results, with 27/15 new core banking/CU wins and robust ProftStars results. JKHY should continue to benefit from the shift toward outsourcing, as 47/39% of its CU/banking customers remain in-house. While JKHY’s credit/debit platform migration remains ongoing, we anticipate margins to remain under pressure throughout FY20 as existing core and non-core clients are now expected to convert by June/November 2020, respectively. We reduce our FY19/20 estimates and maintain our Perform rating.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 19.9% 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 Hold, with a price target consensus of $147.50, which is a 7.7% upside from current levels. In a report issued on April 23, Robert W. Baird also maintained a Hold rating on the stock with a $152 price target.
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The company has a one-year high of $163.68 and a one-year low of $119.30. Currently, Jack Henry & Associates has an average volume of 455.3K.
Based on the recent corporate insider activity of 45 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 following segments: Core, Payments, Complementary, and Corporate and Other.