Sawgrass Asset Management LLC raised its holdings in shares of ACI Worldwide Inc (NASDAQ:ACIW) by 148.8% in the first quarter, Holdings Channel reports. The firm owned 45,850 shares of the technology company’s stock after buying an additional 27,425 shares during the quarter. Sawgrass Asset Management LLC’s holdings in ACI Worldwide were worth $1,507,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Retirement Systems of Alabama lifted its stake in ACI Worldwide by 0.5% during the fourth quarter. Retirement Systems of Alabama now owns 150,374 shares of the technology company’s stock valued at $4,161,000 after buying an additional 776 shares in the last quarter. First Hawaiian Bank lifted its position in shares of ACI Worldwide by 137.3% in the fourth quarter. First Hawaiian Bank now owns 1,419 shares of the technology company’s stock worth $39,000 after purchasing an additional 821 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of ACI Worldwide in the fourth quarter worth approximately $179,000. Reinhart Partners Inc. purchased a new stake in shares of ACI Worldwide in the fourth quarter worth approximately $2,119,000. Finally, Cowen Prime Services LLC lifted its position in shares of ACI Worldwide by 60.7% in the fourth quarter. Cowen Prime Services LLC now owns 22,500 shares of the technology company’s stock worth $623,000 after purchasing an additional 8,500 shares in the last quarter.
In related news, CEO Philip G. Heasley sold 166,572 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $32.28, for a total value of $5,376,944.16. Following the transaction, the chief executive officer now owns 1,441,533 shares in the company, valued at $46,532,685.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.49% of the company’s stock.
NASDAQ:ACIW traded down $0.38 during mid-day trading on Friday, reaching $31.69. The stock had a trading volume of 5,926 shares, compared to its average volume of 603,671. ACI Worldwide Inc has a fifty-two week low of $23.19 and a fifty-two week high of $35.86. The company has a market capitalization of $3.46 billion, a P/E ratio of 28.52, a P/E/G ratio of 4.01 and a beta of 1.18. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.97 and a current ratio of 1.97.
ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07). ACI Worldwide had a return on equity of 8.39% and a net margin of 6.20%. The firm had revenue of $205.90 million during the quarter, compared to analyst estimates of $213.05 million. During the same quarter in the prior year, the company posted ($0.17) EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that ACI Worldwide Inc will post 0.65 earnings per share for the current fiscal year.
ACIW has been the subject of a number of research analyst reports. BidaskClub lowered shares of ACI Worldwide from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th. TheStreet lowered shares of ACI Worldwide from an “a-” rating to a “c+” rating in a research report on Thursday, May 9th. Zacks Investment Research lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Stephens raised shares of ACI Worldwide from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $30.00 to $38.00 in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $34.00.
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About ACI Worldwide
ACI Worldwide, Inc provides software products and services for facilitating electronic payments to banks, financial intermediaries, merchants, and corporates worldwide. It offers UP Retail Payments solution that enables banks to accept, authorize, route, and secure payment transactions; and ACI Card and Merchant Management solutions, including credit, debit, smart card, and prepaid card issuance and management, as well as merchant account management and settlement.
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