Jack Henry & Associates, Inc. · JKHY · FY2025 Q4 · Calendar Q3 2025

Cloud migration and new products support Jack Henry’s growth case

The supplied evidence is supportive, but not conclusive, for a durable-growth thesis: recurring cloud migration, core wins, and new SMB products indicate resilient demand, while merger timing, pricing pressure, hardware weakness, and slower account growth could limit the pace of improvement.

Reported After market closeNASDAQTechnology $10.13B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.75 Consensus $1.58
EPS surprise +10.8% Reported versus consensus
Reported revenue $615.4M Consensus $604.5M
Revenue surprise +1.8% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +2.0% Event window
SPY move -0.3% Same window
Abnormal move +2.2% Stock minus SPY
Volume 2.5× Versus trailing sessions
Subsequent drift -5.7% Up to 20 sessions
JKHYSPY benchmark

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Transcript intelligence

What changed

The current analysis adds stronger evidence of execution: core wins remained robust, private-cloud penetration increased, and Tap2Local and Rapid Transfers reached rollout ahead of schedule. The framing also shifts toward FY26 uncertainty, with maintained guidance but a wider range and clearer attention to merger timing, pricing, and account-growth risks.

Guidance delta

Maintained overall, with FY26 revenue-growth guidance presented in a wider range to accommodate macro uncertainty.

Key takeaways

  • Management described continued private- and public-cloud migration as a recurring-revenue driver.
  • Core sales momentum and broader up-market wins support the demand case.
  • Tap2Local and Rapid Transfers are being rolled out ahead of schedule, expanding the SMB opportunity.
  • The main counterweights are merger-related timing, pricing pressure, hardware weakness, and slower account growth.

Management priorities

  • Continue cloud-modernization rollouts and add platform components.
  • Scale Tap2Local and Rapid Transfers across the Banno client base and begin external sales.
  • Advance stablecoin capabilities through JHA PayCenter and third-party integrations.
  • Maintain technology modernization and consider capital returns with excess cash and no debt.

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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
Bullish1458.3%
Neutral1041.7%
Bearish00.0%

Analyst 52W Price Targets

$142.54Current
$158Low
$186.5Average
$215High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 3, 2026. Not an FN2 forecast.

Firm-level rating actions

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

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

Named analyst price targets

Upside is calculated against the persisted current price $142.54. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Morgan StanleyJames Faucette$158$146.22 +10.8%Sep 30, 2026
Seaport GlobalAnalyst unavailable$193$147.79 +35.4%Sep 28, 2026
Raymond JamesAnalyst unavailable$199$158.38 +39.6%Sep 16, 2026
Piper SandlerBill Carcache$175$154.07 +22.8%Sep 16, 2026
KeyBancAndrew Schmidt$190$166.58 +33.3%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 · 2026-07-26T00:36:15.940040+00:00
  3. Polygon adjusted daily market bars · 2026-10-03T14:16:08.521682+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-03T14:16:08.518811+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 2026-10-03. For educational purposes only; not investment advice.