Benzinga - by Zacks, Benzinga Contributor.
Jack Henry (NASDAQ: JKHY) continues to strengthen its overall portfolio offerings to expand its clientele, which remains its growth driver. Its shares have gained 1.7% in the year-to-date period, outperforming the industry's decline of 2.6%.
This is evident from its latest introduction of a new Daily Dashboard for its cloud platform, Financial Performance Suite (FPS).
The Daily Dashboard provides financial and performance insights for financial institutions to help them analyze loan and deposit balances, credit, and account yields, providing a comprehensive view of their financial health.
It also provides financial institutions with daily insights into production, operational and market areas, enabling them to evaluate new account statistics, monitor outstanding lines, and analyze delinquent loans.
The latest move has already added strength to Jack Henry's customer base. The company is expected to further gain solid traction across banks, credit facilities and other financial institutions in the near term.
Jack Henry & Associates, Inc. Price and Consensus
Jack Henry & Associates, Inc. price-consensus-chart | Jack Henry & Associates, Inc. Quote
Expanding Clientele With Daily Dashboard Great Plains National Bank is one of the earliest customers to implement the Daily Dashboard, boosting Jack Henry's clientele.
The bank is utilizing the FPS Daily Dashboard to replace Excel sheets with automated metrics. This allows for easier monitoring of deposit base changes, enabling more informed asset-liability committee discussions.
Sunlight Federal Credit Union is also utilizing the FPS Daily Dashboard for improved efficiency across various departments.
The credit union seeks a customizable data view using the FPS Daily Dashboard for liquidity, cash flow, accounting, asset liability and loan tracking.
Strengthening Portfolio Apart from the latest launch, the company introduced Banno Business, a solution that enables community and regional financial institutions to provide modern banking experiences for small-to-medium businesses (SMBs).
Banno Business equips community banks and credit unions with digital tools to support SMBs, offering solutions like cash management, payments and commercial lending and integrating external accounts with Mastercard for comprehensive financial management.
Earlier, the company strengthened its overall portfolio with the launch of Payrailz Fraud Monitor, an AI-based feature that provides real-time fraud detection during payment transactions.
The feature supports P2P, bill payments and A2A outbound transfers. It uses AI and machine learning to detect and weigh multiple fraud attributes, generate actionable scores and mitigate payment fraud, including account takeover, by continuously learning and detecting emerging patterns.
Strengthening overall portfolio will continue to drive Jack Henry's customer momentum which in turn will bolstering its overall financial performance.
For fiscal 2024, Jack Henry expects GAAP revenues in the band of $2.215-$2.228 billion. The Zacks Consensus Estimate for the same is pegged at $2.22 billion, implying year-over-year growth of 6.8%.
Zacks Rank & Stocks to Consider Currently, JKHY carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Salesforce (NYSE: CRM), CrowdStrike (NASDAQ: CRWD) and Intuit (NASDAQ: INTU), each carrying a Zacks Rank #2 (Buy) at present.
Shares of Salesforce have gained 6.7% in the year-to-date period. The long-term earnings growth rate for CRM is 17.45%.
Shares of CrowdStrike have gained 30.6% in the year-to-date period. The long-term earnings growth rate for CRWD is currently projected at 22.31%.
Shares of Intuit have gained 3% in the year-to-date period. The long-term earnings growth rate for INTU is 14.57%.
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