Weitz Investment Management Inc. bought a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW – Free Report) in the second quarter, Holdings Channel reports. The firm bought 367,700 shares of the technology company’s stock, valued at approximately $18,492,000. ACI Worldwide accounts for 1.3% of Weitz Investment Management Inc.’s portfolio, making the stock its 24th largest position.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of ACI Worldwide in the second quarter valued at approximately $823,821,000. Dimensional Fund Advisors LP boosted its holdings in shares of ACI Worldwide by 13.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,813,150 shares of the technology company’s stock worth $115,364,000 after buying an additional 344,358 shares during the period. Reinhart Partners LLC. boosted its holdings in shares of ACI Worldwide by 8.5% during the 2nd quarter. Reinhart Partners LLC. now owns 2,424,247 shares of the technology company’s stock worth $121,916,000 after buying an additional 189,433 shares during the period. Alliancebernstein L.P. grew its stake in ACI Worldwide by 4.8% in the 3rd quarter. Alliancebernstein L.P. now owns 2,336,124 shares of the technology company’s stock valued at $123,277,000 after buying an additional 107,993 shares during the last quarter. Finally, North Reef Capital Management LP grew its stake in ACI Worldwide by 13.2% in the 1st quarter. North Reef Capital Management LP now owns 2,230,000 shares of the technology company’s stock valued at $91,452,000 after buying an additional 260,000 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on ACIW shares. DA Davidson set a $66.00 target price on shares of ACI Worldwide and gave the stock a “buy” rating in a research report on Friday, August 7th. Wall Street Zen downgraded ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research raised ACI Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, Weiss Ratings upgraded ACI Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $66.00.
ACI Worldwide Trading Up 0.6%
Shares of ACIW stock opened at $51.86 on Friday. The firm has a market capitalization of $5.24 billion, a P/E ratio of 23.79 and a beta of 0.97. ACI Worldwide, Inc. has a 1 year low of $38.05 and a 1 year high of $61.08. The firm’s fifty day simple moving average is $53.18 and its 200 day simple moving average is $45.80. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52.
ACI Worldwide 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.
Featured Articles
- Five stocks we like better than ACI Worldwide
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding ACIW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACI Worldwide, Inc. (NASDAQ:ACIW – Free Report).
Receive News & Ratings for ACI Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACI Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.
