Welcome to our dedicated page for Jack Henry & Associates news (Ticker: JKHY), a resource for investors and traders seeking the latest updates and insights on Jack Henry & Associates stock.
Jack Henry & Associates, Inc. reports developments for a financial technology company serving banks and credit unions with core processing, digital banking, payments, lending, fraud and anti-money-laundering, and data-integration capabilities. Company updates often cover client selections for outsourced core systems, the Banno Digital Platform, SilverLake, CIF 20/20, Core Director, Symitar, and third-party connections through the Jack Henry Fintech Integration Network.
Recurring news also includes quarterly earnings, deconversion revenue disclosures tied to client contract terminations after bank acquisitions, capital returns through dividends and share repurchases, credit-union and community-bank deployments, product recognition for Tap2Local, and executive participation in investor conferences.
Jack Henry & Associates (NASDAQ: JKHY), a top technology solutions provider for the financial industry, will present at two upcoming investor conferences on March 3, 2022. CFO Kevin Williams will speak at the 6th Annual Evercore ISI Payments & Fintech Innovators Forum at 2:45 PM ET, followed by David Foss, CEO, at the 2022 KBW Fintech & Payments Conference at 11:00 AM ET. Live webcasts will be available for both events, with replays on Jack Henry’s investor relations site.
On February 15, 2022, Jack Henry & Associates (NASDAQ: JKHY) announced that Independent Financial, a Texas-based bank, has chosen its LoanVantage® digital lending platform to automate commercial loans. This collaboration aims to improve the bank's lending efficiency for small and medium-sized businesses. Independent Financial, with $18.7 billion in assets, is expanding its digital capabilities to enhance customer experience and streamline lending operations. The partnership follows Independent Financial's acquisition of a Jack Henry Lending user in 2019, showcasing its commitment to technological advancement.
Jack Henry & Associates (NASDAQ: JKHY) has announced a 7% increase in its quarterly dividend, raising it to $.49 per share. This dividend, payable on March 25, 2022, is for stockholders of record as of March 8, 2022. With 33 consecutive increases in dividends since 1991, Jack Henry underscores its strong organic growth and cash flow, according to CFO Kevin D. Williams. The company aims to continue its investments while deploying cash to benefit shareholders.
Jack Henry & Associates (NASDAQ: JKHY) announced its Q2 fiscal 2022 results, revealing a 17% increase in GAAP revenue and a 34% rise in operating income compared to Q2 2021. Non-GAAP adjusted revenue saw an 11% growth, with a GAAP EPS of $1.30, up 38% year-over-year. The company projects full-year GAAP revenue between $1,939 million and $1,942 million and GAAP EPS of $4.75 to $4.82. Cash decreased to $29.1 million, with $240 million in debt. Management emphasized strong demand and a robust sales pipeline, targeting community financial institutions.
Jack Henry & Associates (NASDAQ: JKHY) announced a cloud-native technology strategy aimed at enhancing innovation for community and regional financial institutions. This multi-year plan focuses on developing a modern open-banking platform that integrates various fintech solutions, responding to the surge in digital banking needs during the pandemic. CEO David Foss highlighted the importance of adapting to market changes and emphasized ongoing investments in digital banking, payments, and lending. Jack Henry aims to support clients with Banking-as-a-Service options, without necessitating full core conversions.
Jack Henry & Associates (NASDAQ: JKHY) announced the successful implementation of its technology solutions by Planters First Bank, a community bank in Georgia. The bank aims to grow by 10% annually by modernizing its services to better compete against larger financial institutions. With Jack Henry's Banno Digital Platform, Planters First Bank improved productivity, increased online banking adoption from 35% to 68%, and doubled mobile deposits. This partnership reflects Jack Henry's commitment to helping community banks enhance their technological capabilities.
Jack Henry & Associates (NASDAQ: JKHY) will host a live Webcast for its second quarter fiscal year 2022 earnings call on February 9, 2022, starting at 7:45 a.m. Central (8:45 a.m. Eastern). The earnings release will be issued after market close on February 8, 2022. Investors can access the webcast via Jack Henry's website, with details for dial-in participation provided. The company offers technology solutions and payment processing services mainly for the financial services sector, serving around 8,500 clients nationwide.
On January 25, 2022, Jack Henry & Associates (NASDAQ:JKHY) announced the promotion of Greg Adelson to President and COO, effective immediately. Adelson, who has been with the company for 11 years and served as COO since 2019, is recognized for his leadership in managing business operations and driving growth. In his new role, he will continue overseeing all products and business units while also leading the newly established Digital and Technology Office. The company is positioned well for future growth with Adelson's extensive experience in the financial services sector.
Jack Henry & Associates (NASDAQ: JKHY) announced that Siouxland Federal Credit Union and Fulda Area Credit Union selected Symitar for a core solution hosted in a private cloud. Siouxland aims for a cohesive member experience, enhancing digital services and card management. Fulda Area CU seeks operational efficiencies and has noted a 15% year-over-year increase in new accounts since adopting Jack Henry's solutions. Both credit unions expect improved service delivery and member engagement through advanced technology offerings.
Jack Henry & Associates (NASDAQ: JKHY) announced that IncredibleBank has enhanced its online account opening process using the Banno Digital Toolkit. This upgrade includes personalized content, same-day decisioning, and faster funding. The bank reported that over 75% of account opening decisions occur in real-time, with a 24% reduction in abandonment rates and a 47% increase in accounts opened monthly. IncredibleBank aims to improve customer experiences and maintain a competitive edge, leveraging integrations with fintech partners Alloy and Plaid.