Jack Henry & Associates up as William Blair starts coverage with 'overweight'

Jack Henry & Associates

11/01/2023 15:47

** Shares of payments tech provider Jack Henry & Associates
Inc  JKHY.O  rise ~2% to $181.42 as William Blair initiates
coverage with "overweight" rating
    ** Company's competitive position and long-term growth
opportunities remain solid, with intact traditional drivers of
business, says William Blair
    ** Says JKHY benefits from over 90% in recurring revenue and
strong customer retention
    ** Company's customer relations tend to be sticky with
long-term contracts and high switching costs - William Blair
    ** Brokerage sets FY23 EPS estimate for company at $4.93 vs
Wall Street consensus of $4.95 - Refinitiv IBES
    ** YTD, stock is up ~3%
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com))