Jack Henry & Associates Stock Price, News & Analysis

Jack Henry & Associates (JKHY) reported a 3% increase in GAAP revenue to $451.8 million for Q1 fiscal 2021, with GAAP EPS rising to $1.19. Non-GAAP revenue grew by 5%, and adjusted operating income rose by 7%. Cash increased by 102% year-over-year, totaling $195.3 million, with no debt reported. Full-year fiscal 2021 guidance anticipates GAAP revenue between $1,760 million and $1,770 million. Despite challenges from the COVID-19 pandemic, the company demonstrated resilience through strong operational performance and a focus on technological solutions in the financial services sector.

Jack Henry & Associates (NASDAQ: JKHY) announces a live Webcast for its first quarter fiscal year 2021 earnings call on November 5, 2020. The earnings press release will be shared post-market close on November 4, 2020. The Webcast starts at 7:45 a.m. Central, accessible via www.jackhenry.com. An archived replay will be available shortly after the live call. Jack Henry serves around 8,700 clients across the financial services sector, reinforcing its position in digital solutions and payment processing.

On October 21, 2020, Jack Henry & Associates (NASDAQ: JKHY) announced that its Banno Digital Platform received 2020 WebAwards for excellence in digital experience. Think Bank won for Best Bank Website, Cornerstone Community Financial Credit Union for Credit Union Standard of Excellence, and Providence Bank for Outstanding Website. The WebAwards acknowledge exceptional websites based on design, innovation, and user interaction. The demand for strong digital capabilities has surged due to the pandemic, with 80% of consumers now managing finances without visiting bank branches.

Jack Henry & Associates (NASDAQ: JKHY) announced its commitment to support the American Bankers Association's Bank On initiative, aimed at providing low-cost, Bank On-certified accounts to unbanked and underbanked populations. With the help of their Jack Henry Banking division, the company will offer resources and guidance to banks nationwide to simplify the certification process. Currently, over 40 banks already participate, enhancing financial access and stability for millions of Americans. Jack Henry's participation emphasizes its commitment to social responsibility within the financial services sector.

Jack Henry & Associates (NASDAQ: JKHY) has partnered with United Texas Bank to implement its SilverLake System core system, enhancing the bank's operational efficiency and digital capabilities. United Texas Bank, which has grown from $170 million to $1 billion in assets in eight years, chose Jack Henry for its automation and advanced digital solutions. The seamless conversion, executed with 90% of staff working remotely, allows the bank to scale operations without increasing resources while improving customer experience with digital services such as JHA OpenAnywhere.

Jack Henry & Associates (NASDAQ: JKHY) announced an expanded partnership with Native American Bank to enhance digital banking services. The Denver-based bank will implement JHA OpenAnywhere for digital account openings and Branch Anywhere for mobile access to banking functionalities, improving customer experience and accessibility. Native American Bank, the only national American Indian-owned CDFI, aims to provide better services for its community, where accessing traditional banking can be inconvenient. This partnership reflects Jack Henry's commitment to modernize banking for underserved markets.

On October 1, 2020, Computer Service Professionals, Inc. (CSPI) announced the acquisition of the CruiseNet® core solution and related operations from Jack Henry & Associates, Inc. This deal positions CSPI to enhance its market share and product offerings in the credit union sector. The CruiseNet platform, built on .Net architecture, will be rebranded as Aurora Advantage CU, with plans to introduce a new digital banking platform in 2021. CSPI aims to retain all employees from the Charlotte, North Carolina office to ensure a seamless transition for clients.

Jack Henry & Associates (NASDAQ: JKHY) announced that Seacoast Commerce Bank has outsourced its IT infrastructure to enhance security and efficiency. The decision came after dissatisfaction with the previous provider's costly and unreliable services. Despite challenges from the pandemic and a security breach at the former provider, Jack Henry successfully completed the conversion on time. This partnership allows the bank to focus on strategic initiatives and improve customer experience, supported by Jack Henry's Gladiator Hosted Network Solutions™.

Jack Henry's Symitar division announced BCU's successful migration of its Episys core system to the company's private cloud. This $4.2 billion asset credit union undertook a five-year initiative to enhance its technology, resulting in improved security and performance. Despite the COVID-19 pandemic, the migration proceeded smoothly, allowing BCU to transition employees to remote work without compromising productivity. With over 60% of Jack Henry's core clients on the cloud, this move validates the benefits of cloud solutions for the financial services industry.