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Jack Henry & Associates' earnings rise 25% in its fiscal third quarter.
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Jack Henry & Associates' earnings rise 25% in its fiscal third quarter.

Jack Henry stock jumps to new high

Posted online

Shares in Jack Henry & Associates Inc. (Nasdaq: JKHY) rose to a new 52-week high after the company released its fiscal third quarter earnings report.

During the three-month period ending March 31, the Monett-based financial software firm posted a 25% increase in profits to $73.9 million, compared with $59.3 million a year earlier.

Following the release of the report, Jack Henry's shares rose 9% to a new 52-week high of $177.57 per share, compared with the prior day's stock high. The company's 52-week low is $123.64 per share.

In its fiscal third quarter, Jack Henry also reported a 13% revenue increase to $429.4 million, according to the release. Diluted share earnings moved up to 96 cents from 77 cents in the same quarter of 2019, according to a news release.

"We are very pleased to report another record quarter of revenue, operating income and net income," Jack Henry President and CEO David Foss said in the release. "We continued to see strong demand for our Jack Henry technology solutions through the third fiscal quarter and total sales bookings are now running 12% ahead of last year's record pace."

Foss said the company expects "some impact" on revenue due to the COVID-19 pandemic but that "there is no way for us to fully predict the impact on our business or our customers."

As of March 31, Jack Henry's assets were $2.2 billion. The company has roughly 8,700 nationwide clients in the financial industry, according to the release.

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