Founded in 1976, the company went public in Nov 1985. As of 1996, insiders still owned 41% of the stock; not until 2006 did any institutional investor show up owning 5% or more of the shares. Only in Nov 2018 did Jack Henry finally grow large enough to join the S&P 500 index.
Unlike a lot of larger companies, Jack Henry hasn’t borrowed money to finance massive buybacks of its own stock; it has no long-term debt. On the back of the company’s business cards is the founders’ original motto: “Do the Right Thing, Do Whatever It Takes, Have Fun.”
Data source: This absolutely incredible column by @jasonzweigwsj . Never everrrrr miss reading his columns.
wsj.com/articles/how-y…
wsj.com/articles/how-y…
