Jack Henry Outpaces Guidance in Its First Fiscal Quarter
Wide-moat-rated Jack Henry & Associates posted year-over-year revenue growth of 7%, generating sales of $345 million. We will remind investors that this is Jack Henry’s first quarter without revenue generated by the recently divested Alogent, and that management has forecast total revenue growth of only 4% for fiscal 2017. In the first quarter, the company did benefit from deconversion fees of $13 million. Adjusting for these one-time gains in revenue, sales growth would have still been a he...Jack Henry & Associates is a provider of information processing solutions for community banks. The company's range of products and services includes processing transactions, automating business processes, and managing information for financial institutions and corporate entities. The company's proprietary solutions are marketed through three primary business brands: Jack Henry Banking, which is a provider of integrated data processing systems; Symitar, which is a provider of data processing solutions for credit unions of various sizes; and ProfitStars, which is a provider of agnostic products and services to financial institutions that are primarily not main customers of the company
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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