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Why Jack Henry Stock Dropped Tuesday

·2 min read
Why Jack Henry Stock Dropped Tuesday
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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. 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. As Jack Henry reported yesterday, sales increased only 1% year over year in fiscal Q2, and earnings increased not at all, remaining flat against the $0.94 earned in the year-ago quarter.