SEB Asset Management AB acquired a new position in ACI Worldwide, Inc. (NASDAQ:ACIW – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,569 shares of the technology company’s stock, valued at approximately $1,090,000.
A number of other hedge funds also recently made changes to their positions in ACIW. Kesler Norman & Wride LLC boosted its position in shares of ACI Worldwide by 21.9% in the first quarter. Kesler Norman & Wride LLC now owns 23,421 shares of the technology company’s stock worth $960,000 after purchasing an additional 4,202 shares during the period. Bessemer Group Inc. raised its position in shares of ACI Worldwide by 43.2% during the 1st quarter. Bessemer Group Inc. now owns 128,565 shares of the technology company’s stock valued at $5,273,000 after purchasing an additional 38,756 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of ACI Worldwide by 11.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,122 shares of the technology company’s stock valued at $292,000 after buying an additional 753 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in ACI Worldwide by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 597,765 shares of the technology company’s stock worth $24,514,000 after buying an additional 16,522 shares during the period. Finally, Fifth Third Bancorp increased its stake in ACI Worldwide by 6,606.3% in the 1st quarter. Fifth Third Bancorp now owns 56,266 shares of the technology company’s stock worth $2,308,000 after buying an additional 55,427 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.
ACI Worldwide Stock Down 0.3%
NASDAQ ACIW opened at $54.53 on Friday. The stock has a 50 day moving average price of $48.14 and a 200-day moving average price of $44.26. ACI Worldwide, Inc. has a one year low of $38.05 and a one year high of $60.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $5.54 billion, a P/E ratio of 27.40 and a beta of 0.98.
Analysts Set New Price Targets
Several brokerages recently issued reports on ACIW. DA Davidson lifted their target price on ACI Worldwide from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Zacks Research upgraded ACI Worldwide from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.00.
Get Our Latest Research Report on ACIW
About ACI Worldwide
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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