As previously reported, Wells Fargo analyst Timothy Willi upgraded Jack Henry to Outperform from Market Perform based on his outlook for acceleration in "core" operations in FY20 and a valuation that he believes can be supported by the quality of the franchise and accelerating outlook. As he looks at FY20, the analyst sees elevated prospects for acceleration in the core franchise driven by the ongoing evolution of the card processing partnership with PSCU/FDC, strong end-market spending, a step up in core-system evaluations and ongoing/robust spending on mobile products. Willi also lowered his price target on the shares to $155 from $160.

Baird raised the firm's price target on Jack Henry to $186 from $180 and keeps a Neutral rating on the shares. The firm expects revenue/EPS to be mildly above Street estimates and F2024 guidance likely mildly raised. They are balanced about the shares but warming a bit, as margin expansion has been emerging, and could set up for rising estimates.