Jack Henry price target lowered to $168 from $175 at Baird

Baird lowered the firm’s price target on Jack Henry to $168 from $175 and keeps a Neutral rating on the shares. The analyst previewed its Q3 results and expects revenue/EPS to be likely around Street estimates and 2023 guidance likely intact/mildly raised. Baird sees the risk/reward as decent, though sentiment around slower debit transaction growth, convert/merge activity and regional bank activity has kept the stock down from recent levels.