Jack Henry & Associates
| Company type | Public |
|---|---|
| Industry | Financial technology |
| Founded | 1976 |
| Founder | Jack Henry, Jerry Hall |
| Headquarters | Monett , United States |
Area served | United States |
| Products | Payment processing solutions, banking software |
Number of employees | 6800+ (2021) |
| Website | jackhenry |
Jack Henry and Associates, commonly referred to as Jack Henry, is a U.S.-based financial technology firm established in 1976. The company specializes in payment processing solutions primarily tailored for community banks and credit unions. It supports regional banking institutions and credit unions by assisting with risk management, regulatory compliance, and the enhancement of digital banking services. Jack Henry is publicly listed on the NASDAQ stock exchange under the ticker JKHY and is included in the S&P 400 index.
History
The company was founded in 1976 by Jack Henry and Jerry Hall in Monett, Missouri, with formal incorporation occurring in 1977. Jack Henry went public on November 20, 1985, offering 3,125,000 shares on NASDAQ under the symbol JKHY. Beginning in 1992, the firm pursued growth through acquisitions, notably acquiring Symitar in 2000 to better serve credit union clients. In 2006, it introduced its third brand, ProfitStars, which delivers specialized solutions derived from previous acquisitions.
Starting from $115,222 in revenue during its inaugural year, Jack Henry's annual revenue reached $1 billion by 2012. By 2021, the company employed more than 6,800 individuals across over 20 states and was honored by Forbes as one of America's "Best Large Employers" for the fourth occasion.
Financial Performance
The following table summarizes key financial metrics for Jack Henry & Associates, Inc. based on fiscal years ending December 31:
| Year | Revenue (USD million) |
Gross Profit (USD million) |
Net Income (USD million) |
|---|---|---|---|
| 1994 | 38.4 | 17.9 | 6.3 |
| 2000 | 225.3 | 113.6 | 34.0 |
| 2006 | 592.2 | 256.4 | 89.9 |
| 2010 | 836.6 | 345.1 | 117.8 |
| 2014 | 1210 | 518.6 | 201.1 |
| 2018 | 1540 | 662.9 | 376.6 |
| 2020 | 1700 | 688.6 | 296.6 |
| 2024 | 2220 | 916.1 | 381.8 |
In the second quarter of fiscal year 2025, Jack Henry announced a net income increase of 6.4%, amounting to $97.8 million ($1.34 per share). This growth was fueled by a 3.5% rise in revenue from services and support alongside a 7.3% increase in processing revenue.
Corporate Structure
Jack Henry & Associates operates through three primary divisions:
- Jack Henry Banking – delivers comprehensive computer systems to banks, serving roughly 1,000 financial institutions as of 2018.
- Symitar – provides integrated software solutions for credit unions, including the Quest platform designed to handle member management and transaction processing.
- ProfitStars – specializes in asset-liability management software targeted at banks and credit unions, with headquarters located in Allen, Texas.
Acquisitions
The ProfitStars brand was established in 2006 to unify ProfitStar and related acquired entities such as Select Payment Processing, Verinex Technologies, Optinfo, Synergy, and Tangent Analytics. Since then, Jack Henry has continued to grow by acquiring various fintech and payment companies including US Banking Alliance, AudioTel Corporation, Gladiator Technology Services, Goldleaf Financial Solutions, iPay Technologies, Vanguard Software Group, and Payrailz.
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- Financial services companies established in 1976
- Software companies established in 1976
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- Monett, Missouri