DA Davidson Upgrades ACI Worldwide (NASDAQ:ACIW) to Buy

ACI Worldwide (NASDAQ:ACIW) was upgraded by investment analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Monday,Benzinga reports. The firm currently has a $60.00 target price on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 29.03% from the company’s current price.

ACI Worldwide Trading Down 4.0%

Shares of ACI Worldwide stock opened at $46.50 on Monday. The company’s fifty day simple moving average is $52.57 and its 200-day simple moving average is $53.19. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 22.04 and a beta of 1.14. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72. ACI Worldwide has a 1 year low of $33.32 and a 1 year high of $59.71.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. The business had revenue of $394.57 million for the quarter, compared to the consensus estimate of $364.36 million. ACI Worldwide had a net margin of 14.04% and a return on equity of 21.67%. ACI Worldwide’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. As a group, sell-side analysts expect that ACI Worldwide will post 2 EPS for the current year.

Insiders Place Their Bets

In other news, Director Charles E. Peters, Jr. sold 12,940 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $57.57, for a total value of $744,955.80. Following the sale, the director now owns 80,842 shares in the company, valued at approximately $4,654,073.94. The trade was a 13.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On ACI Worldwide

Several institutional investors and hedge funds have recently made changes to their positions in ACIW. Barclays PLC raised its position in shares of ACI Worldwide by 244.0% in the 3rd quarter. Barclays PLC now owns 226,173 shares of the technology company’s stock valued at $11,513,000 after acquiring an additional 160,425 shares during the period. Ritholtz Wealth Management raised its position in shares of ACI Worldwide by 48.8% in the 4th quarter. Ritholtz Wealth Management now owns 53,797 shares of the technology company’s stock valued at $2,793,000 after acquiring an additional 17,636 shares during the period. SG Americas Securities LLC raised its position in shares of ACI Worldwide by 30.7% in the 4th quarter. SG Americas Securities LLC now owns 10,140 shares of the technology company’s stock valued at $526,000 after acquiring an additional 2,381 shares during the period. Janney Montgomery Scott LLC raised its position in shares of ACI Worldwide by 56.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,218 shares of the technology company’s stock valued at $946,000 after acquiring an additional 6,602 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of ACI Worldwide in the 4th quarter valued at approximately $219,000. Institutional investors and hedge funds own 94.74% of the company’s stock.

ACI Worldwide Company Profile

ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments in the United States and internationally. The company operates in three segments: Banks, Merchants, and Billers. The company offers ACI Acquiring, a solution to process credit, debit, and prepaid card transactions, deliver digital innovation, and fraud prevention; ACI Issuing, a digital payment issuing solution for new payment offering; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.