Weitz Investment Management Inc. Buys 60,800 Shares of ACI Worldwide, Inc. $ACIW

Weitz Investment Management Inc. boosted its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 19.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 366,800 shares of the technology company’s stock after buying an additional 60,800 shares during the period. Weitz Investment Management Inc.’s holdings in ACI Worldwide were worth $19,356,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ACIW. Millennium Management LLC increased its position in shares of ACI Worldwide by 160.4% during the 1st quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock worth $8,634,000 after purchasing an additional 97,206 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of ACI Worldwide by 93.4% during the first quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock worth $81,000 after buying an additional 711 shares in the last quarter. Caxton Associates LLP bought a new position in shares of ACI Worldwide in the first quarter valued at approximately $259,000. Empowered Funds LLC raised its stake in shares of ACI Worldwide by 64.2% in the first quarter. Empowered Funds LLC now owns 16,362 shares of the technology company’s stock valued at $895,000 after acquiring an additional 6,399 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of ACI Worldwide by 13.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 407,332 shares of the technology company’s stock worth $22,285,000 after acquiring an additional 48,988 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings cut ACI Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

ACI Worldwide Stock Performance

Shares of ACI Worldwide stock opened at $39.08 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market cap of $4.03 billion, a P/E ratio of 15.76 and a beta of 1.05. The firm has a 50 day simple moving average of $44.23 and a 200 day simple moving average of $47.26. ACI Worldwide, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $58.14.

ACI Worldwide Company Profile

ACI Worldwide (NASDAQ:ACIW) is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company’s platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI’s modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.