Jack be nimble, Jack be quick… Jack Henry & Associates (NASDAQ: JKHY) stock dropped 10% this morning, and is still down 8.6% as of 12:45 p.m. EST. It may not rhyme very well, but unfortunately, it’s true.
Yesterday after close of trading, the tax advisor reported fiscal second-quarter 2021 earnings that easily beat the consensus target. It earned $0.94 per share where analysts had forecast only $0.87. Sadly, the company’s quarterly sales of $422 million fell short of analysts’ hoped-for $433 million, and I suspect this is the reason the stock is down today.