Jack Henry & Associates, Inc. · JKHY · FY2025 Q2 · Calendar Q1 2025

Jack Henry: Cloud and payments momentum, with pricing risks

The supplied analysis supports a constructive operating picture: cloud migration, high client retention, renewals and payments expansion provide growth support. The thesis is tempered by hardware weakness, pricing pressure, consolidation and the absence of actual EPS and revenue values in the deterministic scorecard.

Reported Before market openNASDAQTechnology $10.97B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $1.37
EPS surprise — Reported versus consensus
Reported revenue — Consensus $579.1M
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -0.4% Event window
SPY move +0.7% Same window
Abnormal move -1.1% Stock minus SPY
Volume 1.8× Versus trailing sessions
Subsequent drift +2.0% Up to 20 sessions
JKHYSPY benchmark

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Transcript intelligence

What changed

Relative to the supplied prior-quarter analysis, private-cloud adoption advanced from 73% to about 75% of core clients, and the current analysis highlights 21% year-over-year renewal growth plus expanded partnerships across Visa Direct, Mastercard Send and Move.

Guidance delta

Management reaffirmed FY2025 guidance; the supplied analysis describes guidance sentiment as maintained.

Key takeaways

  • The supplied analysis describes Q2 non-GAAP revenue growth of 6.1% and a record sales quarter.
  • Renewals rose 21% year over year, including multiple large-bank renewals.
  • Cloud migration reached about 75% of core clients and remains a central growth driver.
  • Visa Direct, Mastercard Send and Move expand the payments offering.
  • Hardware weakness, pricing pressure and industry consolidation remain offsets.

Management priorities

  • Continue private- and public-cloud migration.
  • Expand real-time payments and fraud-related offerings.
  • Advance the Move merchant-acquiring solution.
  • Improve Banno feature parity and deliver planned core-platform functionality.

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Earnings History

Estimate Beat Miss Match
JKHY REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q2 '24 estimate $541M Q2 '24 actual $546M, beat Q3 '24 estimate $542M Q3 '24 actual $539M, miss Q4 '24 estimate $563M Q4 '24 actual $560M, miss Q1 '25 estimate $600M Q1 '25 actual $601M, beat Q4 '25 estimate $605M Q4 '25 actual $615M, beat Q1 '26 estimate $636M Q1 '26 actual $645M, beat Q2 '26 estimate $610M Q2 '26 actual $619M, beat Q3 '26 estimate $620M Q3 '26 actual $636M, beat Q4 '26 estimate $632M Q4 '26 actual $644M, beat Q1 '27 estimate $685M Q2 '27 estimate $657M Q3 '27 estimate $665M
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Analyst Consensus ?

ConsensusBuy24 ratings
Bullish1562.5%
Neutral937.5%
Bearish00.0%

Analyst 52W Price Targets

$156.47Previous close
$158Low
$186.5Average
$215High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 16, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Piper Sandler Overweight NeutralUpgradeOct 9, 2026
RBC Capital Outperform OutperformMaintainSep 30, 2026
Morgan Stanley Equal Weight Equal WeightMaintainSep 30, 2026
Raymond James Strong Buy Strong BuyMaintainSep 16, 2026
DA Davidson Buy BuyMaintainSep 2, 2026
Show 19 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $156.47. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Morgan StanleyJames Faucette$158$146.22 +1.0%Sep 30, 2026
Seaport GlobalAnalyst unavailable$193$147.79 +23.3%Sep 28, 2026
Raymond JamesAnalyst unavailable$199$158.38 +27.2%Sep 16, 2026
Piper SandlerBill Carcache$175$154.07 +11.8%Sep 16, 2026
KeyBancAndrew Schmidt$190$166.58 +21.4%Sep 14, 2026
See 38 more

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Company context

Snapshot as of publication

Jack Henry & Associates, Inc. operates as a financial technology company that connects people and financial institutions through technology solutions and payment processing services. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions, which consist of integrated applications required to process deposit, loan, general ledger transactions, and maintain centralized accountholder information. The Payments segment offers secure payment processing tools and services, including ATM, automated clearing house origination and remote deposit capture processing, and risk management products and services, as well as debit and credit card processing services, and online and mobile bill pay solutions.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-01-21T00:01:13.267231+00:00
  3. Polygon adjusted daily market bars · 2026-10-16T09:10:43.802517+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-16T09:10:43.799784+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-16. For educational purposes only; not investment advice.