Jack Henry's quarterly profits jump 27%

Jack Henry & Associates Inc. (Nasdaq: JKHY) reported a more than 27% increase in profits during its fiscal second quarter.

The Monett-based financial software company posted net income of $124.7 million, up from $97.8 million a year earlier, according to a news release. Diluted share earnings jumped to $1.72 from $1.34 per share.

Revenue during the quarter rose by 7.9% to $619.3 million from $573.8 million.

"Our sales teams delivered outstanding results across all areas, including our core segment where we won 22 competitive core deals in the quarter while maintaining a robust pipeline fueled by a growing demand environment," President and CEO Greg Adelson said in the release. "We are extremely well-positioned in the market and remain laser-focused on our key differentiators of culture, service, innovation, strategy and execution."

Jack Henry's assets were $3.1 billion as of Dec. 31. The company has roughly 7,400 financial industry clients.

JKHY shares were trading at $171.65 as of 11:31 a.m., compared with a 52-week range of $144.12 to $196 per share.