Conestoga Capital Advisors released its third-quarter 2025 investor letter, noting equity markets hit new highs. The Conestoga Smid Cap Composite returned -1.1% net-of-fees, underperforming the Russell 2500 Growth Index at +10.7%. The stock market rally saw “low quality” leadership in the third quarter. Top 5 holdings of the fund offer insight into their 2025 picks.

In the same investor letter, Conestoga Capital Advisors highlighted Jack Henry & Associates, Inc. (NASDAQ:JKHY), a financial technology company. The one-month return for JKHY was 1.75%, with shares down 17.83% over 52 weeks. On October 17, 2025, JKHY closed at $152.93 per share with a market cap of $11.113 billion.

Conestoga Capital Advisors mentioned JKHY provides core processing, digital banking, and payment solutions for U.S. financial institutions. The stock, along with other fintech stocks, faced pressure due to concerns over deposit growth and AI software disruption. Company-specific headwinds like outsized M+A of larger customers are seen as temporary.

Read more at Yahoo Finance: Jack Henry & Associates (JKHY) Declined in Line with Broader Industry Downturn