Fred Alger Management LLC Cuts Stock Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Fred Alger Management LLC decreased its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 21.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,236 shares of the technology company’s stock after selling 19,106 shares during the period. Fred Alger Management LLC owned about 0.07% of ACI Worldwide worth $3,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ACIW. Blue Trust Inc. raised its position in shares of ACI Worldwide by 104.9% during the 4th quarter. Blue Trust Inc. now owns 582 shares of the technology company’s stock worth $30,000 after purchasing an additional 298 shares during the last quarter. Covestor Ltd raised its holdings in shares of ACI Worldwide by 239.4% during the fourth quarter. Covestor Ltd now owns 594 shares of the technology company’s stock valued at $31,000 after acquiring an additional 419 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of ACI Worldwide by 278.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,899 shares of the technology company’s stock valued at $99,000 after acquiring an additional 1,397 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of ACI Worldwide by 24.0% in the fourth quarter. GAMMA Investing LLC now owns 2,624 shares of the technology company’s stock worth $136,000 after acquiring an additional 508 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of ACI Worldwide during the fourth quarter worth approximately $201,000. Institutional investors and hedge funds own 94.74% of the company’s stock.

Insider Activity

In other ACI Worldwide news, Director Charles E. Peters, Jr. sold 12,940 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $57.57, for a total transaction of $744,955.80. Following the transaction, the director now owns 80,842 shares of the company’s stock, valued at approximately $4,654,073.94. The trade was a 13.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

ACI Worldwide Trading Down 4.0 %

Shares of ACIW stock opened at $46.50 on Friday. ACI Worldwide, Inc. has a fifty-two week low of $33.32 and a fifty-two week high of $59.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.56 and a current ratio of 1.56. The stock’s fifty day moving average is $52.57 and its two-hundred day moving average is $53.13. The firm has a market capitalization of $4.89 billion, a P/E ratio of 22.04 and a beta of 1.14.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.18. The firm had revenue of $394.57 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.10 earnings per share. Research analysts expect that ACI Worldwide, Inc. will post 2 earnings per share for the current fiscal year.

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.