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 (Nasdaq: JKHY) has been selected by TIB, N.A., the largest bankers' bank in the U.S., to provide a new technology infrastructure. This partnership enables TIB to support nearly 1,400 community banks across all states, enhancing their ability to compete with larger financial institutions and fintechs. TIB will transition from a proprietary core system to Jack Henry's outsourced technology model, improving operational efficiency and scalability, which positions TIB for future growth, especially in high-demand services like real-time payments.
Atomic, a leader in payroll connectivity, has integrated its direct deposit setup solution, Deposit, into Jack Henry’s digital banking platform. This collaboration offers financial institutions a streamlined method for customers to manage direct deposits effortlessly. Soft launched in July 2022, the solution enables users of Jack Henry's Banno platform to activate the Deposit plugin quickly. Atomic aims to assist marginalized consumers and help institutions enhance their offerings.
Jack Henry & Associates (Nasdaq: JKHY) has announced its participation in two upcoming investor conferences. CEO David Foss and CFO Mimi Carsley will present at the Credit Suisse 26th Annual Technology Conference on November 29, 2022, at 1:40 p.m. Eastern time. Additionally, Foss will speak at the Nasdaq 47th Investor Conference in London on December 6, 2022, at 8:30 a.m. Eastern time. Live webcasts will be available for both events, and replays can be accessed on Jack Henry's Investor Relations website following the presentations.
Jack Henry & Associates (NASDAQ: JKHY) has declared a regular quarterly cash dividend of $.49 per share, payable on December 22, 2022. This dividend is for stockholders of record as of December 1, 2022. As of November 10, 2022, the company had 72,950,545 shares of common stock outstanding. The firm continues to emphasize its commitment to delivering financial technology solutions that enhance connections between financial institutions and their clients.
Jack Henry (NASDAQ: JKHY) and Cornerstone Bank reported a remarkable 180% increase in loan production over two years, attributed to Jack Henry's digital loan-origination platform. Cornerstone Bank, a $1.5-billion asset institution formed from local banks, has streamlined its lending processes, reducing approval times from 14 to 8 business days. The technology has improved both internal efficiency and customer satisfaction, showcasing Jack Henry's impact on financial institutions' growth and competitive positioning.
Jack Henry & Associates reported strong financial results for Q1 FY2023, with GAAP revenue increasing by 8% year-over-year to $529.2 million and operating income up 5% to $140.7 million. GAAP EPS was $1.46, compared to $1.38 in Q1 FY2022. The company’s guidance for FY2023 projects revenue between $2,092 million and $2,099 million, with a GAAP EPS forecast of $4.90 to $4.94. However, cash decreased from $44.3 million last year to $32 million, and debt rose significantly to $245 million.
On November 3, 2022, Jack Henry & Associates (Nasdaq: JKHY) announced participation in two upcoming investor conferences. CEO David Foss will present at the RBC Capital Markets Global Technology Conference on November 16 at 10 a.m. ET, with a live webcast available. Additionally, he will present at the Stephens Annual Investment Conference on November 17 at 3 p.m. ET. Replays of both events will be accessible on Jack Henry's Investor Relations website. This engagement highlights the company's commitment to transparency and investor relations.
Jack Henry (NASDAQ: JKHY) has partnered with The Maries County Bank to enhance its digital customer experience and support community growth. The bank, which has $571 million in assets, aims to modernize its services through Jack Henry’s technology solutions, including the Banno Digital Platform. This collaboration will streamline processes and integrate access to over 850 third-party fintechs, enabling the bank to offer a wider range of products. The initiative supports the bank's commitment to maintaining its role in the community while improving customer satisfaction.
Jack Henry & Associates (Nasdaq: JKHY) will host a live Webcast of its first quarter fiscal year 2023 earnings call on November 9, 2022, following the release of earnings post-market on November 8, 2022. The earnings call will start at 7:45 a.m. Central and can be accessed via the company's website. Jack Henry is a financial technology leader serving approximately 8,000 clients, focusing on innovation and integration with fintech partners. The company emphasizes a commitment to user-centric solutions in the evolving financial landscape.
Jack Henry (Nasdaq: JKHY) has launched a standalone person-to-person (P2P) payments solution via its Payrailz Digital Payments Platform. This innovative open-loop service allows users to send money using just a mobile number or email, enabling transactions without the need for the sender and receiver to be on the same network. Key features include fraud mitigation, real-time payments, and the ability to credit funds to various accounts. The solution aims to enhance digital banking capabilities for financial institutions and meet growing customer demand for flexible payment options.