Jack Henry & Associates Stock Price, News & Analysis

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.

Jack Henry & Associates (NASDAQ: JKHY) has announced its upcoming fourth quarter and fiscal year-end 2024 earnings call, scheduled for August 21, 2024. The company will release its earnings press release after market close on August 20, 2024. The live webcast will begin at 7:45 a.m. Central Time on the company's website. Investors can access the call via US dial-in number 833-630-0605 or international number +1 412-317-1830.

Additionally, Jack Henry will release its fourth quarter 2024 deconversion revenue results separately, with the press release scheduled for after market close on August 12, 2024. This early release of deconversion revenue data precedes the full quarterly earnings report.

Jack Henry & Associates Inc. (Nasdaq: JKHY) has appointed Tammy LoCascio and Lisa Nelson to its Board of Directors on July 22, 2024. The company has temporarily expanded its Board from nine to ten directors until the 2024 Annual Meeting of Stockholders. LoCascio, 55, is the Senior Executive VP and COO of First Horizon , bringing expertise in banking strategy, technology, operations, and human capital management. Nelson, 61, is the President of Equifax Inc. International business, offering experience in managing technology companies, strategic acquisitions, and growth initiatives. Both appointments aim to add unique perspectives and expertise to Jack Henry's Board.

Jack Henry (Nasdaq: JKHY) reports significant growth for three de novo banks in the Southeastern U.S. - Craft Bank, RockPointBank, and Moultrie Bank & Trust. These banks, established within the last four years, have experienced steady growth using Jack Henry's modern technology platform. Key factors contributing to their success include:

• Local ownership and decision-making
• Rapid population growth in the Southeast
• Jack Henry's robust technology solutions

Craft Bank ($230M assets) and RockPointBank ($280M assets) focus on serving SMBs, while Moultrie Bank & Trust ($100M assets) caters to both retail and commercial customers. All three banks highlight Jack Henry's role in enabling them to compete with larger institutions while providing personalized banking experiences.