Jack Henry price target lowered to $164 from $176 at Baird

Baird analyst David Koning lowered the firm’s price target on Jack Henry to $164 from $176 and keeps a Neutral rating on the shares. The firm said while FQ4 beat, its EPS guide was below consensus partly due to lower term fees/severance program, non-GAAP margins expansion ex-Payrailz lower than typical, and the departure incentive program was added-back when hasn’t been added back in the past.