
RBC Capital Markets upgrades bank tech provider Jack Henry & Associates JKHY.O to "outperform" from "sector perform"
Brokerage says JKHY is poised to win more business from rivals as Fiserv FISV.O is consolidating its core platforms
Fiserv is consolidating its 16 core platforms down to five, affecting ~1,400 clients, brokerage says, as the co deals with fierce competition
JKHY boosted R&D spending to about 14–15% of revenue from FY22 to FY25 up roughly 13% from FY 17 to FY21, helping it cement its position as a tech leader and driving record sales bookings in five of the past eight quarters, brokerage says
Meanwhile, brokerage raises PT to $210 from $185 which is a 11.9% upside to the stock's last close
7 of 17 brokerages rate the stock "buy" or higher, 10 "hold"; median PT is $187 — data compiled by LSEG
As of last close, JKHY up 7% YTD