Jack Henry provides mission-critical payment and technology services to the financial services industry. The company has more than 9,000 customers and did over $1.7 billion in revenue in 2020. Jack Henry’s services include transaction processing for banks and other financial institutions, data processing solutions for credit unions, payments processing, risk management, information security, mobile solutions, and online solutions to corporates and financial institutions. Jack Henry may appear more of a financial stock, but it is considered by some investors as the best tech stock to invest in or at least one of the top stocks worth considering for a long position. The company benefits from economic moats as well as a general trend for greater digitalization of payments processing and handling.
More Information About Jack Henry & Associates
Jack Henry & Associates was founded in the year 1976 by two gentlemen by the names of Jack Henry and Jerry Hall. The company was founded in Monett, Missouri, and is headquartered there even today. In 1985, the company went public and was listed on the NASDAQ exchange under the JKHY symbol. The company then made essential acquisitions in 2000, 2004, and 2005. Today, Jack Henry operates three leading brands: Jack Henry Banking, Symitar, and ProfitStars. Jack Henry Banking provides computer systems to banks and other financial institutions. Symitar provides systems for credit unions and software applications for managing transactions and the member base. ProfitStars offers core-agnostic solutions for banks and credit unions. If you are looking to buy tech stocks today, then it may be worth taking a closer look at Jack Henry & Associates.
One of the best tech stocks to invest in during recent times has been AMD. Over a 5-year period, the stock has gone from around $2 to $80. However, not all stocks provide such spectacular returns. Jack Henry & Associates has provided a steady return, rising from $85 to $155 over the previous five years. Apple, one of the most popular companies in Silicon Valley, has seen its stock go from around $25 in 2016 to over $120 in 2021.