Jack Henry & Associates (JKHY) is likely to further strengthen its position as a leader in bank and credit union technology "for years to come" with a long-term technology modernization strategy that it is in the process of executing, RBC Capital Markets said in a note Sunday.

The brokerage also noted what it described as the company's "enviable track record" of consistently posting organic revenue growth higher than its peers while generating operating leverage.

RBC said it will hold investor meetings with some company officials on Tuesday and Wednesday that it expects will have questions and debates that revolve around pricing, cash generation and valuation, among other things.

"We believe that these debates, apart from valuation, are either temporary or immaterial in the medium term," the firm said.

RBC maintained Jack Henry & Associates' $185 price target and sector perform rating.

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