Welcome to our dedicated page for Henry (Jack) & Associates news (Ticker: JKHY), a resource for investors and traders seeking the latest updates and insights on Henry (Jack) & Associates stock.
Jack Henry & Associates, Inc.® (Nasdaq: JKHY) is a prominent financial technology company that has been empowering financial institutions for over 47 years. Known for its commitment to openness, collaboration, and user-centric solutions, Jack Henry provides core processing and complementary services to nearly 7,500 clients, including banks and credit unions, primarily in the United States. The company's robust suite of products and services includes core banking platforms like SilverLake, CIF 20/20, and Core Director, as well as credit union platforms such as Episys and Cruise.
Jack Henry's integrated computer systems support in-house and outsourced data processing, covering crucial aspects like deposit, loan, and general ledger transactions. The company's offerings extend to business intelligence and management solutions, internet banking, EFT solutions, risk management, item and document imaging, payment processing solutions, and professional services.
Recent achievements highlight Jack Henry's continuous innovation. The company's digital banking platform Banno recently integrated with Bits of Stock, allowing community financial institutions to offer stock rewards to customers. This integration enhances Jack Henry's ecosystem of over 950 fintechs, bringing modern financial products to approximately 7,500 financial institutions.
In fiscal second quarter 2024, Jack Henry reported deconversion revenue of $4.9 million, with full-year guidance maintaining estimates at $16 million. Deconversion revenue, typically arising from customer acquisitions by other institutions, is not reflective of Jack Henry's core operations but is significant for financial reporting.
Notable partnerships include Legacy Bank & Trust, which doubled its asset size by leveraging Jack Henry's scalable hosted core processing solution, and United Bank, which selected Jack Henry to modernize operations and improve customer experience through tools like the Banno Digital Platform™ and LoanVantage®. Additionally, the successful merger of UniWyo Credit Union and Reliant Federal Credit Union was facilitated by Jack Henry's seamless data conversion and integration capabilities, showcasing the company's ability to support significant transformation projects.
As an S&P 500 company, Jack Henry remains dedicated to helping clients innovate, differentiate, and compete effectively in the evolving financial landscape. The company's people-inspired innovation and personal service continue to reduce barriers to financial health, fostering strong connections between financial institutions and the communities they serve. For more information, visit the official website at www.jackhenry.com.
SMA Technologies has expanded its partnership with Jack Henry to enhance operational efficiencies for banks using the SilverLake data center. This collaboration leverages SMA's OpCon Workload Automation & Orchestration to automate workflows for both banks and credit unions, meeting the growing demand for operational efficiency in the financial sector. According to a recent Jack Henry study, 44% of financial institution CEOs prioritize operating efficiency, with automation as a key element. This expanded relationship aims to provide seamless API connectivity, improving visibility and control for clients while automating critical processes.
Jack Henry & Associates announced that its Board Chair and CEO, David Foss, will present at the Wolfe Research FinTech Forum on March 14, 2023, at 2:30 p.m. Eastern time. A live webcast of the presentation will be available at this link. A replay can be accessed on Jack Henry's Investor Relations website after the live event. The company emphasizes its commitment to fostering relationships between financial institutions and clients, leveraging over 45 years of technological expertise.
Jack Henry & Associates (Nasdaq: JKHY) will participate in several upcoming conferences in March 2023. CEO David Foss is scheduled to present at the 2023 KBW FinTech Payments Conference on March 1 at 10:15 AM ET, the 7th Annual Evercore ISI Payments & Fintech Innovators Forum on March 2 at 2:35 PM ET, and the Raymond James 2023 Institutional Investors Conference on March 7 at 9:15 AM ET. CFO Mimi Carsley will present at the Morgan Stanley Technology, Media, and Telecom Conference on March 8 at 1:25 PM ET. Live webcasts will be available, with replays accessible on Jack Henry's Investor Relations website.
EasySend has joined the Jack Henry™ Vendor Integration Program, facilitating integration with the Symitar® platform. This partnership allows EasySend to utilize Jack Henry's technical resources, enhancing its no-code platform for transforming customer data and signature collection processes. With this integration, EasySend aims to help financial institutions improve operational efficiency and streamline customer interactions. The move comes as banks seek cost reduction and new income sources amid economic uncertainty. EasySend's CEO emphasizes the importance of digital solutions in retaining customers in a highly competitive market.
On February 13, 2023, Jack Henry & Associates (NASDAQ: JKHY) announced a 7% increase in its quarterly dividend, raising it to $0.52 per share. The dividend is payable on March 24, 2023, to shareholders on record as of March 8, 2023. This marks the company's 34th dividend increase since it began paying quarterly dividends in 1991. As of February 8, 2023, there were 72,990,790 shares outstanding. CFO Mimi L. Carsley noted the company's strong organic growth and cash flows, reinforcing confidence in sustaining these trends and benefiting shareholders.
Jack Henry & Associates (NASDAQ: JKHY) reported mixed financial results for the fiscal second quarter ending December 31, 2022. GAAP revenue increased by 2%, reaching $505.3 million, while GAAP operating income fell by 15% to $107.4 million. Non-GAAP adjusted revenue rose by 6% to $496.4 million, and non-GAAP operating income increased by 4% to $105 million. GAAP EPS was $1.10, down from $1.30 in the prior year. Full-year fiscal 2023 guidance estimates GAAP revenue between $2,048 million and $2,055 million. While cash decreased to $26 million from $29 million year-over-year, total deferred revenue rose to $285 million, reflecting positive operational momentum in fintech solutions.
Talkdesk has joined Jack Henry's Vendor Integration Program (VIP), allowing integration with the Symitar core platform. This partnership provides Talkdesk access to Jack Henry's technical resources to enhance the Financial Services Experience Cloud for credit unions and banks. The integration ensures efficient data access, enabling seamless customer interactions across self-service and live agent channels. Talkdesk's global head of products highlighted the value derived from connecting contact centers with core banking systems. However, VIP participation does not imply endorsement of Talkdesk’s products.
Jack Henry & Associates (Nasdaq: JKHY) will host a live Webcast of its second quarter fiscal year 2023 earnings conference call on February 8, 2023, at 7:45 a.m. Central time. The related earnings announcement will be released on February 7, 2023, after market close. Investors can access the Webcast via the company's website, with dial-in options available for US and international participants. An archived replay will be accessible approximately one hour after the call. Jack Henry provides technology solutions to nearly 8,000 clients in the financial services sector, enhancing connectivity and competition.
FAQ
What is the current stock price of Henry (Jack) & Associates (JKHY)?
What is the market cap of Henry (Jack) & Associates (JKHY)?
What services does Jack Henry & Associates provide?
What are the core banking platforms provided by Jack Henry?
How does Jack Henry support financial institutions with their technology needs?
What recent integrations have been developed by Jack Henry?
How does Jack Henry maintain its financial growth?
What is deconversion revenue and its significance for Jack Henry?
Can you name a few financial institutions that have partnered with Jack Henry?
How does Jack Henry support the growth of banks like Legacy Bank & Trust?
What is the role of the Banno Digital Platform™ in Jack Henry's offerings?
What makes Jack Henry a prominent player in financial technology?
