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Fly News Breaks for December 11, 2019
JKHY
Dec 11, 2019 | 06:46 EDT
Evercore ISI analyst David Togut downgraded Jack Henry to Underperform from In Line and maintained a $114 price target. The firm's 2020 Bank Tech Outlook indicates customers on average will reduce spending by .6%, versus an increase of 4.2% in 2019, with respondents expected to increase overall IT budgets by 3.2%, versus 6% last year. Checks further indicate customers IT budgets will be more maintenance oriented and the significant price increases last year have contributed to user frustration and a reduced demand outlook.
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