ACI Worldwide (NASDAQ:ACIW – Get Free Report)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a report released on Monday,Benzinga reports. They currently have a $60.00 price objective on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 38.68% from the stock’s previous close.
Other analysts also recently issued reports about the company. Zacks Research downgraded ACI Worldwide from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 10th. Weiss Ratings raised ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.00.
Read Our Latest Report on ACIW
ACI Worldwide Stock Down 4.9%
ACI Worldwide (NASDAQ:ACIW – Get Free Report) last posted its earnings results on Thursday, May 7th. The technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.16. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The business had revenue of $425.75 million during the quarter, compared to the consensus estimate of $410.08 million. During the same period in the previous year, the business earned $0.51 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts anticipate that ACI Worldwide will post 2.53 EPS for the current fiscal year.
Insider Activity
In related news, Director Adalio T. Sanchez purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were purchased at an average price of $40.98 per share, for a total transaction of $122,940.00. Following the transaction, the director directly owned 64,378 shares of the company’s stock, valued at approximately $2,638,210.44. The trade was a 4.89% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Juan Benitez II purchased 2,400 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average price of $41.90 per share, for a total transaction of $100,560.00. Following the transaction, the director directly owned 16,881 shares in the company, valued at $707,313.90. This trade represents a 16.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On ACI Worldwide
Several institutional investors have recently added to or reduced their stakes in ACIW. Millennium Management LLC increased its position in ACI Worldwide by 160.4% in the 1st quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock valued at $8,634,000 after acquiring an additional 97,206 shares during the period. NewEdge Advisors LLC increased its position in ACI Worldwide by 93.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock valued at $81,000 after acquiring an additional 711 shares during the period. Caxton Associates LLP acquired a new position in ACI Worldwide in the 1st quarter valued at about $259,000. Empowered Funds LLC increased its position in ACI Worldwide by 64.2% in the 1st 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 valued at $22,285,000 after acquiring an additional 48,988 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.
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.
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