Oppenheimer Maintains a Hold Rating on Jack Henry & Associates (JKHY)

By Carrie Williams

Oppenheimer analyst Glenn Greene maintained a Hold rating on Jack Henry & Associates (JKHYResearch Report) yesterday. The company’s shares closed yesterday at $149.06.

Greene noted:

“JKHY reported solid in-line 3QFY19 results with revenue and EPS both directionally comparable to our estimates. Revenue/EBIT grew ~5/-1% Y/Y in 3Q (i.e., ex. termination fee comparisons, M&A, bonuses linked to tax savings). Organic revenue growth was directionally consistent with peers’ during the quarter. Management suggests that sales results again remained strong. JKHY generated ~$105M in FCF Y/Y, weighed down by higher capex/cap SW. We await commentary on the sales/demand environment, revenue drivers, and forward outlook for FY19. Maintain Perform. Our estimates are under review.”

According to TipRanks.com, Greene is a top 25 analyst with an average return of 20.1% and a 85.9% success rate. Greene covers the Technology sector, focusing on stocks such as Fidelity National Info, Total System Services, and Global Payments Inc.

Jack Henry & Associates has an analyst consensus of Moderate Buy, with a price target consensus of $146, a -2.1% downside from current levels. In a report issued on April 23, Robert W. Baird also maintained a Hold rating on the stock with a $152 price target.

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Based on Jack Henry & Associates’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $68.09 million. In comparison, last year the company had a net profit of $72.4 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.

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Jack Henry & Associates, Inc. engages in the provision of technology solutions and payment processing services primarily for financial services organizations. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other.