Jack Henry (JKHY) Poised To Gain Shares From QTWO, PT To $134 At Stephens

Stephens analyst, Brett Huff, reiterated his Equal Weight rating on shares of Jack Henry (NASDAQ: JKHY) and raised his price target to $134 from $127 after the company stated it was "shocked" to see the pipeline up so much after the strong prior year. Management went on to say that an "enormous" number of banks are evaluating core changes.

The anlayst stated "Banno's big $35 bil. bank win went live in 2Q. A major proof point that product can scale up nicely and compete w/BAC and JPM, both of whom are investing billions to compete in digital consumer channel. Mgt said the Conversations module, essentially online chat, is a differentiator for the product. We think this is a potential long-term headwind for QTWO though
think JKHY will attempt to replace their older systems w/in their core base before pushing too hard into non-JKHY core banks".

For an analyst ratings summary and ratings history on Jack Henry click here. For more ratings news on Jack Henry click here.

Shares of Jack Henry closed at $131.78 yesterday.

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