YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Jack Henry stock hits 52-week high

Posted online

Jack Henry & Associates Inc. (Nasdaq: JKHY) shares hit a fresh 52-week high this morning following the release of the company’s fiscal 2020 second quarter earnings report.

The 52-week high of $164.84 is up 7% from yesterday’s closing price of $153.77. The stock’s 52-week low is $126.

The stock movement came as Jack Henry on Tuesday reported a quarterly earnings increase of 6% to roughly $72 million on revenue of $419 million, which was up 9%. Diluted share earnings climbed to 94 cents from 88 cents in the second quarter of fiscal 2019, according to a news release.

"We continue to have good revenue growth, with the primary drivers being our outsourcing in our private cloud and debit and credit card processing,” said Kevin Williams, chief financial officer for the Monett-based financial software firm, in the release. “Every component of revenue was up for the quarter compared to last year, except license and related maintenance revenue.”

Second quarter financial notes for Jack Henry:
• Expenses grew 9% to $325.4 million.
• Provision for income taxes was up 8% to nearly $22 million.
• Operating income increased 6% to $93.7 million.

Jack Henry’s assets were $2.2 billion as of Dec. 31. The company has around 9,000 financial industry clients, according to the release.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

Coronavirus Coverage

SBJ compiles news on the respiratory virus outbreak.

Most Read
SBJ.net Poll
Is your business going to apply for the U.S. Small Business Association disaster loan?

View results