Jack Henry price target lowered to $173 from $200 at BTIG

BTIG analyst Lance Jessurun lowered the firm’s price target on Jack Henry to $173 from $200 due to “softer margin guidance” but keeps a Buy rating on the shares. The company had a “strong” Q4, and while the management’s outlook for FY24 looks “modest”, there is also comfortable room for upside on margin, the analyst tells investors in a research note, stating that Q4 was the strongest on record for sales bookings. There were no share repurchases during the quarter as the management used excess liquidity to pay down higher interest debt, and the company is likely in a good spot should an attractive acquisition target appear, the firm added.