Jack Henry & Associates

JKHY · NASDAQ

$154.71+$1.92 (+1.26%)TodayMarket closed · Oct 20, 6:40 PM ET

Prev close $152.79

JKHY analyst rating

BuyConsensus of 19 analysts over the last 12 months. 74% rate it a buy.

Strong buy1
Buy13
Hold5
Underperform0
Sell0

12-month price target · 20 analysts

Average $194.10 (+25.5% upside)

Low: $159.58
Now: $154.71
High: $219.45

Upgrades and downgrades

The latest rating actions, newest first

JKHY analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
B of A Securities	Oct 15, 2026	Initiates	Neutral	$165.00	67%
Piper Sandler	Oct 9, 2026	Upgrade	Neutral → Overweight	$175.00	72%
RBC Capital	Sep 30, 2026	Maintains	Outperform	$178.00	64%
Morgan Stanley	Sep 30, 2026	Maintains	Equal-Weight	$170.00 → $158.00	57%
Seaport Global	Sep 28, 2026	Initiates	Buy	$193.00	39%
Raymond James	Sep 16, 2026	Maintains	Strong Buy	$192.00 → $199.00	45%
Piper Sandler	Sep 16, 2026	Maintains	Neutral	$171.00 → $175.00	72%
RBC Capital	Sep 16, 2026	Maintains	Outperform	$178.00	64%
Keybanc	Sep 14, 2026	Initiates	Overweight	$190.00	47%
Piper Sandler	Sep 11, 2026	Initiates	Neutral	$171.00	72%

The case for and against

Updated Oct 14, 2026

Bull case

Jack Henry & Associates is attractive because its earnings stream is unusually visible, anchored by more than 99% core-client retention, a record 58 competitive core wins in FY26, and rising trifecta penetration that broaden revenue from existing relationships. The company is also moving upmarket, adding 20 bank and credit union customers with more than $1 billion of assets since June 2024 to March 2026 while still serving only 32% of that market, leaving room for continued share gains. Financially, revenue reached $2.5 billion in FY26, adjusted EBITDA was $813 million, free cash flow was $539 million, and EPS is expected to rise from $6.62 in FY26A to $8.54 in FY29E, supported by strong cash generation and a declining share count.

Bear case

Jack Henry & Associates is viewed negatively because the share price has fallen about 20% YTD even as the NTM EPS outlook has remained resilient, implying that valuation compression—not earnings deterioration—has driven the decline. Its outlook is constrained by slower revenue growth, customer deconversions, implementation delays, competitive pressure from FIS, Fiserv, and fintechs, and a structural shrinkage in the logo pool from bank and credit union consolidation. Although FY27 FCF conversion is guided at 80%-100% and buybacks rise to $250MM-$320MM in FY27-29E, the lower FY28 margin expansion and possibility of weaker bank IT spending leave limited support for multiple recovery.

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