Last $66.43 USD
Change Today -0.42 / -0.63%
Volume 230.9K
JKHY On Other Exchanges
As of 8:10 PM 02/26/15 All times are local (Market data is delayed by at least 15 minutes).

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jack henry & associates inc (JKHY) Details

Jack Henry & Associates, Inc. provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to mid-tier, multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand. It also provides a suite of integrated applications required to process deposit, loan, and general ledger transactions, as well as to maintain centralized customer/member information; and complementary products and services that enable core bank and credit union clients to respond to evolving customer/member demands. The company’s Jack Henry Banking business brand provides SilverLake, an IBM System i-based system primarily designed for commercial-focused banks; CIF 20/20, a system for the community bank market; and Core Director, a Windows-based client/server system. Its Symitar brand’s credit union platforms comprise Episys, an IBM System p-based system primarily designed for credit unions; and Cruise, a Windows-based client/server system designed primarily for credit unions. In addition, the company purchases and resells hardware systems, including servers, workstations, scanners, and other devices; and provides implementation, training, and support services. Jack Henry & Associates, Inc. was founded in 1976 and is headquartered in Monett, Missouri.

5,499 Employees
Last Reported Date: 08/27/14
Founded in 1976

jack henry & associates inc (JKHY) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: $567.7K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $409.2K
Chief Technology Officer, Vice President and ...
Total Annual Compensation: $277.2K
Compensation as of Fiscal Year 2014.

jack henry & associates inc (JKHY) Key Developments

Jack Henry & Associates Inc. Enters into Five-Year Senior, Unsecured Revolving Credit Agreement

On February 20, 2015, Jack Henry & Associates Inc. entered into a five-year senior, unsecured revolving Credit Agreement among the company, as Borrower, the lenders party thereto, U.S. Bank National Association, as Administrative Agent, LC Issuer and Swing Line Lender, and certain other financial institutions as co-syndication agents and joint lead arrangers and joint book runners. The Credit Agreement provides for revolving credit loans of up to $300 million with a sublimit of $50 million for letters of credit and a sublimit of $50 million for swing line loans. The Credit Agreement may be increased by up to $300 million to a maximum aggregate principal amount of $600 million pursuant to the terms and subject to certain limitations in the Credit Agreement. The Credit Agreement is scheduled to expire in February 2020 and may be used to refinance existing indebtedness of the company and for general corporate purposes. The Credit Agreement replaces the company's existing $150 million secured credit agreement dated June 4, 2010, as amended to date, among the company, certain subsidiaries of the company as guarantors, a syndicate of bank lenders, U.S. Bank National Association, as administrative agent, and other financial institutions as syndication agent and documentation agents, which was scheduled to mature in June 2015 and which has been terminated in connection with the Credit Agreement. The Credit Agreement bears interest at a variable rate equal to, at the option of the company, either a rate based on LIBOR or an alternate base rate ((i) U.S. Bank's prime rate, (ii) the Federal Funds Rate plus 0.50% and (iii) one month LIBOR plus 1.00%), plus an applicable percentage in each case determined based on the company's leverage ratio. The Credit Agreement contains customary affirmative and negative covenants that, among other things, limit the ability of the company and its subsidiaries, without the approval of the lenders, to engage in certain mergers, consolidations, asset sales, investments and transactions with affiliates, or to incur liens or indebtedness in excess of stated amounts, in the Credit Agreement.

Jack Henry & Associates Receives NASDAQ Letter

Jack Henry & Associates, Inc. announced that, as anticipated, it has received a letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC ("NASDAQ") notifying the Company of its noncompliance with NASDAQ Listing Rule 5250(c)(1) as a result of the Company's filing of a Notification of Late Filing on Form 12b-25 on February 9, 2015. In the Form 12b-25, the Company indicated that the filing of its Quarterly Report on Form 10-Q for the three months ended December 31, 2014 (the "Form 10-Q") will be delayed until after the completion of a re-evaluation of the Company's accounting for revenue recognition policies for certain of the Company's Software License Maintenance and Service Agreements in 2014. The NASDAQ letter notes that the Company is required to submit a plan to regain compliance with NASDAQ's filing requirements for continued listing within 60 calendar days of the date of the NASDAQ notification letter. Upon acceptance of the Company's compliance plan, NASDAQ is permitted to grant an extension of up to 180 days from the Form 10-Q's filing due date for the Company to regain compliance with NASDAQ's filing requirements for continued listing. The Company's management and its independent registered accounting firm, Deloitte and Touch LLP , continue to work diligently to complete the re-evaluation, and the Company intends to regain compliance with the NASDAQ's filing requirements. The Company expects to file its Quarterly Report on Form 10-Q for the three months ended December 31, 2014 as soon as practicable. The Company presently expects that the filing will be delayed for a period of up to four weeks from the filing deadline. The Company does not expect any material changes to the financial results disclosed in the Company's earnings release dated February 3, 2014.

Jack Henry & Associates Increases Quarterly Dividend Payable on March 18, 2015

Jack Henry & Associates Inc. announced that its Board of Directors increased the quarterly cash dividend by 14% to $0.25 per share. The cash dividend on its common stock, par value $0.01 per share, is payable on March 18, 2015, to stockholders of record as of March 3, 2015.


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Valuation JKHY Industry Range
Price/Earnings 26.6x
Price/Sales 4.3x
Price/Book 5.4x
Price/Cash Flow 26.0x
TEV/Sales 4.3x

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