ACI Worldwide, Inc. (NASDAQ:ACIW – Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $60.38 and last traded at $59.8350, with a volume of 184549 shares. The stock had previously closed at $57.88.
Wall Street Analysts Forecast Growth
ACIW has been the subject of several recent research reports. DA Davidson raised their price target on shares of ACI Worldwide from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Weiss Ratings raised ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Wall Street Zen upgraded ACI Worldwide from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research upgraded ACI Worldwide from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $64.00.
Read Our Latest Stock Analysis on ACI Worldwide
ACI Worldwide Trading Up 4.2%
ACI Worldwide (NASDAQ:ACIW – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.16. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. The company had revenue of $425.75 million during the quarter, compared to the consensus estimate of $410.08 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts predict that ACI Worldwide, Inc. will post 2.69 EPS for the current fiscal year.
Hedge Funds Weigh In On ACI Worldwide
Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in 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 last quarter. Reinhart Partners LLC. increased its holdings in shares of ACI Worldwide by 8.5% in the 2nd quarter. Reinhart Partners LLC. now owns 2,424,247 shares of the technology company’s stock valued at $121,916,000 after acquiring an additional 189,433 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of 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 acquiring an additional 107,993 shares during the last quarter. North Reef Capital Management LP raised its position in shares of ACI Worldwide by 13.2% during the 1st quarter. North Reef Capital Management LP now owns 2,230,000 shares of the technology company’s stock worth $91,452,000 after acquiring an additional 260,000 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of ACI Worldwide by 6.0% during the 4th quarter. Morgan Stanley now owns 2,188,415 shares of the technology company’s stock worth $104,628,000 after acquiring an additional 123,928 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.
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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