Jack Henry price target raised to $198 from $190 at DA Davidson

DA Davidson analyst Peter Heckmann raised the firm’s price target on Jack Henry to $198 from $190 and keeps a Buy rating on the shares. The analyst cites the company’s Q2 earnings beat while noting that Jack Henry hit a new Q2 record for sales bookings and achieved the second highest quarter of bookings in the company’s history. The management also indicated the prospect pipeline continued to be quite solid and that demand environment remained fairly strong, the firm tells investors in a research note.