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Jack Henry (JKHY) Boosts Clientele With F&M Bank Partnership
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Jack Henry (JKHY - Free Report) continues to enjoy solid customer momentum due to its strong product portfolio.
The latest extension of its partnership with Farmers and Merchants Bank (F&M Bank) testifies to the abovementioned fact. F&M Bank strives to bring efficiency to its operations with JKHY’s robust solutions.
It already leverages Jack Henry's security, operational efficiencies and open banking infrastructure to support its retail and commercial accounts.
In addition, the bank intends to expand its business and agricultural accounts to larger markets by leveraging Jack Henry's Banno Business. It will also use treasury management services.
The latest move by F&M Bank has added strength to the customer base of Jack Henry.
We believe Jack Henry’s growing efforts toward strengthening its product portfolio will continue to bolster its clientele.
Recently, Jack Henry unveiled a policy management solution that streamlines policy creation, review, approvals, attestations and exceptions with workflows, documentation and storage on a single platform.
Additionally, its acquisition of a digital payment company named Payrailz to expand its payment services for helping financial institutions seamlessly cater to the needs of consumer and commercial account holders remains noteworthy.
Growing Customer Base
Apart from the partnership extension by F&M Bank, SMA Technologies recently collaborated with Jack Henry to improve operational efficiencies for banks & credit unions. Per the terms of the deal, SMA will use Jack Henry's SilverLake data center with its OpCon’s automation and orchestration to help banks.
Further, the company’s Symitar platform was selected by L&N Federal Credit Union. The latter strives to build and offer solutions through fintech relationships, equip its members with advanced tools, streamline its operations and boost efficiencies with Symitar.
Additionally, JKHY got picked by TIB for leveraging its technology platform to support near and long-term operations.
We note that an expanding customer base is likely to contribute to Jack Henry’s top-line growth in the near term. This will aid the company in winning investors’ confidence.
The Zacks Consensus Estimate for JKHY’s third-quarter fiscal 2023 revenues is pegged at $501.2 million, which suggests a 4.8% rise from the prior-year period’s reported figure.
Coming to the price performance, shares of Jack Henry have dropped 26.2% in the past year compared with the industry's and the sector’s decline of 30.7% and 14.8%, respectively.
Zacks Rank & Stocks to Consider
Currently, Jack Henry carries a Zacks Rank #3 (Hold).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Arista Networks (ANET - Free Report) , Salesforce (CRM - Free Report) and Analog Devices (ADI - Free Report) . While Arista Networks and Salesforce sport a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have risen 16.8% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.
Salesforce shares have declined 7.4% in the past year. CRM’s long-term earnings growth rate is currently projected at 16.75%.
Analog Devices shares have risen 17.6% in the past year. The long-term earnings growth rate for ADI is currently projected at 10.5%.
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Jack Henry (JKHY) Boosts Clientele With F&M Bank Partnership
Jack Henry (JKHY - Free Report) continues to enjoy solid customer momentum due to its strong product portfolio.
The latest extension of its partnership with Farmers and Merchants Bank (F&M Bank) testifies to the abovementioned fact. F&M Bank strives to bring efficiency to its operations with JKHY’s robust solutions.
It already leverages Jack Henry's security, operational efficiencies and open banking infrastructure to support its retail and commercial accounts.
In addition, the bank intends to expand its business and agricultural accounts to larger markets by leveraging Jack Henry's Banno Business. It will also use treasury management services.
The latest move by F&M Bank has added strength to the customer base of Jack Henry.
Jack Henry & Associates, Inc. Price and Consensus
Jack Henry & Associates, Inc. price-consensus-chart | Jack Henry & Associates, Inc. Quote
Portfolio Strength – a Key Catalyst
We believe Jack Henry’s growing efforts toward strengthening its product portfolio will continue to bolster its clientele.
Recently, Jack Henry unveiled a policy management solution that streamlines policy creation, review, approvals, attestations and exceptions with workflows, documentation and storage on a single platform.
Additionally, its acquisition of a digital payment company named Payrailz to expand its payment services for helping financial institutions seamlessly cater to the needs of consumer and commercial account holders remains noteworthy.
Growing Customer Base
Apart from the partnership extension by F&M Bank, SMA Technologies recently collaborated with Jack Henry to improve operational efficiencies for banks & credit unions. Per the terms of the deal, SMA will use Jack Henry's SilverLake data center with its OpCon’s automation and orchestration to help banks.
Further, the company’s Symitar platform was selected by L&N Federal Credit Union. The latter strives to build and offer solutions through fintech relationships, equip its members with advanced tools, streamline its operations and boost efficiencies with Symitar.
Additionally, JKHY got picked by TIB for leveraging its technology platform to support near and long-term operations.
We note that an expanding customer base is likely to contribute to Jack Henry’s top-line growth in the near term. This will aid the company in winning investors’ confidence.
The Zacks Consensus Estimate for JKHY’s third-quarter fiscal 2023 revenues is pegged at $501.2 million, which suggests a 4.8% rise from the prior-year period’s reported figure.
Coming to the price performance, shares of Jack Henry have dropped 26.2% in the past year compared with the industry's and the sector’s decline of 30.7% and 14.8%, respectively.
Zacks Rank & Stocks to Consider
Currently, Jack Henry carries a Zacks Rank #3 (Hold).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Arista Networks (ANET - Free Report) , Salesforce (CRM - Free Report) and Analog Devices (ADI - Free Report) . While Arista Networks and Salesforce sport a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have risen 16.8% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.
Salesforce shares have declined 7.4% in the past year. CRM’s long-term earnings growth rate is currently projected at 16.75%.
Analog Devices shares have risen 17.6% in the past year. The long-term earnings growth rate for ADI is currently projected at 10.5%.