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. (JKHY) delivers core banking technology and digital solutions to financial institutions nationwide. This news hub provides investors and industry professionals with essential updates about the company's strategic developments and market position.
Access timely press releases, earnings reports, and product innovation announcements in one centralized location. Our curated collection simplifies tracking regulatory filings, partnership disclosures, and operational milestones relevant to JKHY's role in financial technology infrastructure.
Key updates include system enhancements for credit unions, risk management tool deployments, and digital banking platform expansions. All content is sourced from official channels to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined monitoring of JKHY's technological advancements and industry contributions. Regular updates provide critical insights for evaluating the company's performance in the competitive fintech sector.
Jack Henry™ (Nasdaq: JKHY) announced that AmeriCU Credit Union is leveraging its technology infrastructure to expand geographically and meet more community needs. AmeriCU, founded in 1950, has used Jack Henry's Symitar core system for 30 years, growing from $193 million to $2.7 billion in assets. The credit union serves over 164,000 members across 20 locations in Central and Northern New York.
Jack Henry's SymAdvisor consulting team helped AmeriCU launch competitive rewards checking and debit card accounts, implement data analytics solutions, and reduce account opening time from 10 to 3.5 minutes. The credit union also added features like earned wage access to differentiate itself and increase wallet share.
AmeriCU demonstrates strong community commitment, offering emergency loans during severe weather and providing discounts to first responders and military members for homeownership.
Bank Director's 2024 Technology Survey reveals key insights into U.S. banks' technology strategies and concerns. The survey, sponsored by Jack Henry, highlights that improving operational efficiency (49%), attracting and retaining customers (29%), and growing low-cost deposits (10%) are banks' primary technology objectives.
Notable findings include:
- 75% of respondents report increased technology budgets for fiscal year 2024
- 53% invested in payments, 46% in digital retail account opening
- 80% are discussing budgets for data analytics, 66% for artificial intelligence
- 60% experienced delays in technology project completion
- Only 21% measure ROI for technology projects
The survey also notes a shift in competitive landscape, with increased concern about retailers like Amazon and Walmart. Banks are increasingly hiring developers, and boards are prioritizing technology expertise.
Jack Henry (Nasdaq: JKHY) has been named to IDC's 2024 FinTech Rankings Top 25 for the 16th consecutive year, securing the 11th position. This prestigious list ranks leading companies providing hardware, software, and services to the financial services industry based on calendar-year revenue from financial institution clients. IDC projects that the financial services industry will spend over $800 billion worldwide on information technology by 2026.
Greg Adelson, Jack Henry's President and CEO, emphasized the company's commitment to delivering innovative technology that empowers community and regional financial institutions to compete effectively and meet evolving customer needs. The recognition underscores Jack Henry's role in supporting financial institutions' digital transformation initiatives.
Jack Henry & Associates, Inc. (Nasdaq: JKHY) has announced its participation in the Goldman Sachs 2024 Communacopia + Technology Conference. Mimi Carsley, CFO & Treasurer of Jack Henry, will present at the event on September 10 at 11:10 a.m. ET.
A live webcast of the presentation will be available for viewing. For those unable to attend, a replay of the event will be accessible on the company's investor relations website at ir.jackhenry.com following the live presentation.
This announcement highlights Jack Henry's commitment to engaging with investors and sharing insights about the company's financial performance and strategies.
Jack Henry (Nasdaq: JKHY) has announced a collaboration with Moov, a digital payments processor, to enhance digital payment services for small and medium-sized businesses (SMBs) through community and regional financial institutions. The cloud-native service will allow SMBs to accept payments via phone tap, receive same-day funds, and automate reconciliations with accounting software. This initiative aims to help financial institutions better serve their business clients' deposit and payment needs.
The collaboration aligns with Jack Henry's technology modernization strategy, offering API-first services to help community and regional financial institutions compete effectively. The service is expected to reduce fragmentation in SMB banking relationships and help financial institutions capture SMB deposits, which are typically higher than retail deposits. Beta testing for this multi-phased approach is anticipated to begin by mid-2025.
Jack Henry & Associates (Nasdaq: JKHY) has announced its upcoming 2024 Investor Day, scheduled for Thursday, Sept. 5, 2024. The event will commence at 1 p.m. CT (2 p.m. ET) and feature presentations from the company's senior leadership team, followed by Q&A sessions.
Investors and interested parties can access a live audio broadcast and presentation materials through Jack Henry's Investor Relations website. For those unable to attend the live event, an on-demand replay will be made available after the conclusion of the Investor Day.
This annual event provides an opportunity for stakeholders to gain insights into Jack Henry's strategies, performance, and future outlook directly from the company's top executives.
Jack Henry & Associates (NASDAQ: JKHY) has announced a regular quarterly cash dividend of $0.55 per share. The dividend will be paid on September 27, 2024, to stockholders of record as of September 6, 2024. This declaration by the Board of Directors maintains the company's consistent dividend policy, demonstrating its commitment to returning value to shareholders. The dividend applies to JKHY's common stock, which has a par value of $0.01 per share.
Jack Henry & Associates reported its Q4 and full year fiscal 2024 results. GAAP revenue for Q4 increased by 4.7% to $559.9 million, and for the fiscal year, it rose by 6.6% to $2.22 billion. Non-GAAP adjusted revenue for Q4 grew by 6.4% to $553.2 million, and for the fiscal year, it was up by 7.4% to $2.2 billion. GAAP EPS for Q4 was $1.38, up from $1.34 in the prior year, while fiscal year EPS was $5.23 compared to $5.02 last year. Full-year guidance for fiscal 2025 projects revenue between $2.369 billion and $2.391 billion, with a GAAP EPS range of $5.78 to $5.87.
Services and support revenue increased by 1.5% for Q4 and 5.0% for the fiscal year. Processing revenue saw a rise of 9.2% for Q4 and 8.9% for the year. Operating income for Q4 was up by 1.2% to $125.6 million and for the year it grew by 1.8% to $489.4 million. Net income for Q4 increased by 3.4% to $101.1 million and by 4.1% to $381.8 million for the year.
The company highlighted robust technology spending and demand for innovative solutions as key factors driving growth. Cash and cash equivalents at the end of the fiscal year were $38 million, with an outstanding debt of $150 million related to credit facilities.
TwinStar Credit Union continues its long-standing relationship with Jack Henry (Nasdaq: JKHY) following a successful merger with Northwest Community Credit Union (NWCU). The merged entity, operating under the TwinStar name, now serves over 250,000 members across Washington and Oregon, with $4.3 billion in assets, 36 locations, and more than 700 employees.
TwinStar's decision to maintain its partnership with Jack Henry is attributed to the company's open, scalable technology and strong leadership support. The credit union has experienced significant growth since joining Jack Henry in 1987, expanding from $50 million to $2.2 billion in assets pre-merger. TwinStar CEO Jeff Kennedy praised Jack Henry's unified strategy for providing the freedom to innovate and deliver value without constraints.
The partnership aims to support TwinStar's long-term growth goals, enhance member service, and maintain relevance in a competitive market, particularly among younger generations.
Jack Henry & Associates (Nasdaq: JKHY) reported its fourth quarter 2024 deconversion revenue results. The company announced $6.7 million in deconversion revenue for the fiscal fourth quarter ended June 30, 2024, and $16.6 million for the full fiscal year 2024. Deconversion revenue primarily occurs when a Jack Henry customer is acquired by another financial institution, leading to contract termination. The company excludes this revenue from non-GAAP reports as it doesn't represent ongoing business operations. For updated guidance on deconversion revenue estimates, investors are directed to Jack Henry's August 3, 2023 Form 8-K filing with the SEC.
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