Jack Henry & Associates Inc – Best Information Technology Stocks
When you think about information technology, you tend to think of big names like Accenture or Microsoft. However, as you would agree, information technology is a vast area that has only gotten bigger as technology plays an outsized role in our lives. Information technology is everywhere, whether you talk about e-commerce, finance, entertainment, education, and even home buying. One of the most disrupted areas is finance. Technology has been transforming the financial services industry. One stock worth tracking is Jack Henry & Associates. It is a leader when it comes to integrated data processing systems used by financial institutions. Jack Henry counts some 1,000 banks as its customers. If you are on the lookout for the best new technology stock, then take a closer look at Jack Henry & Associates.
Jack Henry Banking, Symitar, and ProfitStars – Jack Henry’s Brands
The three main brands of Jack Henry & Associates are Jack Henry Banking, Symitar, and ProfitStars. Jack Henry has segmented its product line on the basis of the size of customers that it serves. Jack Henry Banking caters to community banks and large financial institutions. It offers data processing systems to over 1,000 banks. Symitar is the flagship data processing system targeted towards credit unions. Jack Henry has some 800+ credit unions signed up for this product. ProfitStars, meanwhile, is not a core offering. It is a group of solutions and services offered to non-core customers. Jack Henry was founded about 45 years ago in 1976 and has since grown to become a leading provider in its niche of financial data processing and payment processing. It is one of the best information technology stocks that investors can explore in the finance niche.
Best New Technology Stock
Jack Henry closed at $162 on 5th October 2021. It was almost flat for the day while the 1-month return was negative 5.9%. Year-to-date, the stock was up 2.6% which indicates range-bound movement for quite some time. Such sideways movements can be a prelude to a bigger move.