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RBC upgrades Jack Henry to 'outperform' on Fiserv platform shake‑up

ReutersDec 16, 2025 12:08 PM

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

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