Technology stocks had been on a roll throughout the year 2020. It is only in February 2021 that NASDAQ has started correcting after going through a strong uptrend since almost 2010. Several technology stocks have created tremendous wealth for investors. The general trend during most major crises has been the rise of technology stocks. The pandemic has also seen a similar trend, with technology stocks doing quite well amidst the economic mayhem in various other sectors. However, with the situation now stabilizing and NASDAQ also taking a breather, it may be a time to get selective with technology stocks. Finding the most suitable tech stocks to buy right now will require careful evaluation. Companies like Jack Henry & Associates can potentially be good picks. They may not be traditional powerhouses of the financial services industry, but they have important strengths that can lead to long-term growth.
Jack Henry & Associates Business Information
Jack Henry & Associates is a payment processing expert. It provides payment processing services and related technology solutions to various companies in the financial services industry. It serves close to 8600 clients through its three business segments. These segments are Jack Henry Banking, Symitar, and ProfitStars. As the names suggest, Jack Henry Banking is focused on banks as its customers. Symitar provides solutions to credit unions. ProfitStars offers specialized solutions in the areas of data and risk management. Jack Henry & Associates has a strong track record built over 40 years in the industry. Its solutions and systems are often mission-critical from the client’s perspective. Therefore, there is a good level of customer stickiness, an important economic moat that every investor wants to see in a top technology stock to invest in.
Jack Henry & Associates stock closed at $156.41 on 29th March 2021. The company’s stock has risen by about 2.8% over the preceding 30 days. However, the stock is flat on a 1-year basis. The dividend yield offered on Jack Henry & Associates’ stock is not bad at close to 1.2%.