Jack Henry & Associates Inc – Best New Tech Stock
Data processing at commercial banks and financial institutions is a mission-critical activity. Jack Henry & Associates specializes in software used for payment processing. It also deals in computer systems that financial institutions use for their data processing. Jack Henry & Associates has a strong track record in this niche. As you can imagine, having a track record is very important because banks will not trust any new entrant with their sensitive payments data. The trust factor also means that customer stickiness tends to be high as banks will not want to switch their technology partners to save a few million dollars. Jack Henry & Associates might be one of the top information technology stocks 2021 because of its industry positioning and its strengths. The company is headquartered in Monett, Missouri, and trades under the “JKHY” symbol.
Company Information – Jack Henry & Associates
Jack Henry & Associates was founded in 1976. Jack Henry’s competitors include Fiserv, Trident, FIS, and CheckAlt. The company also receives positive reviews on being a rewarding place to work. As of 2020, Jack Henry had more than 6700 employees and 9000 customers. The company has 41 offices spread out across the US. The company started from a very humble background. It started out by renting out space from an engine repair shop for about $40 a month. The company grew steadily and went public in 1985. Today, it counts major banks, community banks, and credit unions as its customers. Its flagship products are Stymitar and ProfitStars. Some consider Jack Henry & Associates to be a fintech company because of its expertise in technology and its customer base in the financial services industry. Regardless of its niche, Jack Henry & Associates may be considered to be one of the best new tech stock that is not an obvious name.
Top Information Technology Stocks 2021
Jack Henry & Associates employs people from a range of backgrounds. Technology and IT is obvious area. However, Jack Henry also employs people from marketing & sales backgrounds. Datacenter knowledge is also highly sought by the company, along with project management expertise.