Jack Henry & Associates Stock Price, News & Analysis

Jack Henry & Associates (NASDAQ: JKHY) reported an 8% increase in GAAP revenue for Q1 FY2022, totaling $488.1 million, with operating income rising 14% to $133.6 million. The GAAP EPS reached $1.38, up from $1.19 YoY. Non-GAAP adjusted revenue also rose by 9% to $484.2 million, alongside a 16% increase in operating income. The company has forecasted FY2022 GAAP revenue between $1,910 million and $1,919 million, with EPS projected at $4.64 to $4.73. Cash decreased to $44.3 million from $195.3 million YoY, while debt rose to $65 million.

Jack Henry & Associates (NASDAQ: JKHY) announced the upcoming retirements of CFO Kevin Williams and CTO Ted Bilke, effective June 2022. An executive search will begin to find Williams' successor, while Ben Metz, currently Head of Digital, will take over as Chief Digital & Technology Officer in January 2022. Williams has been with the company for over 23 years, and Bilke for 16 years. Both executives have significantly contributed to the company's growth and innovation in the financial services sector. Jack Henry remains committed to a smooth leadership transition.

Jack Henry & Associates (NASDAQ: JKHY) has announced a partnership with Early Warning Services, LLC, operator of Zelle®, to enhance faster payment accessibility for minority-owned depository institutions (MDIs). This initiative includes a rebate program running until June 30, 2022, aimed at facilitating MDIs' connection to the Zelle Network® via JHA PayCenter™, Jack Henry's payments hub. The partnership underlines a commitment to improve financial health in underserved communities by providing modern financial tools to MDIs and their clients.

TrueNorth has joined Symitar's Vendor Integration Program (VIP), enhancing its ability to integrate with Symitar's Episys platform. This collaboration allows TrueNorth to access Symitar's technical resources, streamlining integration for credit unions. With a track record of over 120 digital transformations, TrueNorth's efficient development process promises quick product delivery in 3 to 6 months. Symitar's VIP aims to improve competitive positioning for credit unions by facilitating access to essential technology products.

Jack Henry & Associates (NASDAQ: JKHY) has announced a live webcast for its first quarter fiscal year 2022 earnings conference call on November 9, 2021. The earnings report will be released after market close on November 8, 2021. The webcast will start at 7:45 a.m. Central and can be accessed via the company's website. Participants are encouraged to log in 10 minutes early. An archived replay will be available shortly after the call.

Jack Henry & Associates (NASDAQ: JKHY) announced that two financial institutions using its Banno Content web hosting services were honored with 2021 WebAwards. The Bank of Princeton received the Best Bank Website award, while AVB Bank was recognized for Bank Standard of Excellence. The WebAwards evaluate websites on design, activity, and innovation. Bank representatives highlighted increased website traffic and customer engagement attributed to the modernized sites, contributing to business growth.

Jack Henry & Associates (NASDAQ: JKHY) has partnered with Finicity, Akoya, and Plaid to enhance security and user experience on the Banno Digital Platform. The integrations eliminate screen scraping, allowing nearly 6 million consumers to securely share financial data through their institutions. Ben Metz emphasized the benefits for community financial institutions to compete effectively against larger banks. The Banno Digital Toolkit offers extensive customization and seamless digital banking experiences, positioning Jack Henry as a leader in cloud-based solutions.

Member Driven Technologies (MDT) announced OMNI Community Credit Union's implementation of Jack Henry's JHA PayCenter™ to enhance faster payment options for members across Michigan. This move follows OMNI's approval for a state-wide membership expansion, aiming to meet rising demands for swift payment services, competing with platforms like PayPal and Venmo. MDT emphasizes the strategic importance of providing instant payment capabilities to retain members and maintain competitive advantage in the growing digital payments landscape.

Jack Henry & Associates (NASDAQ: JKHY) announced a partnership with the $1.5 billion Crews Banking Corporation, aimed at modernizing its technology across lending, digital, and core operations. Crews Banking, which operates four banks in Florida, will transition to Jack Henry's SilverLake System, enhancing operational efficiency and compliance. This collaboration includes leveraging Jack Henry's digital loan platform and Banno Digital Platform to improve customer experience and streamline lending processes. The move is expected to boost Crews Banking's competitive position in the market.