Mackay Shields LLC bought a new position in ACI Worldwide Inc (NASDAQ:ACIW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,200 shares of the technology company’s stock, valued at approximately $725,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor Group Inc. increased its holdings in shares of ACI Worldwide by 10.7% during the 4th quarter. Advisor Group Inc. now owns 3,579 shares of the technology company’s stock valued at $100,000 after acquiring an additional 346 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ACI Worldwide by 17.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,127 shares of the technology company’s stock valued at $86,000 after acquiring an additional 465 shares during the last quarter. Belpointe Asset Management LLC increased its holdings in shares of ACI Worldwide by 2.3% during the 3rd quarter. Belpointe Asset Management LLC now owns 24,951 shares of the technology company’s stock valued at $702,000 after acquiring an additional 551 shares during the last quarter. Retirement Systems of Alabama boosted its stake in ACI Worldwide by 0.5% during the 4th quarter. Retirement Systems of Alabama now owns 150,374 shares of the technology company’s stock valued at $4,161,000 after purchasing an additional 776 shares during the period. Finally, First Hawaiian Bank boosted its stake in ACI Worldwide by 137.3% during the 4th quarter. First Hawaiian Bank now owns 1,419 shares of the technology company’s stock valued at $39,000 after purchasing an additional 821 shares during the period.
Several analysts recently weighed in on ACIW shares. Zacks Investment Research upgraded ACI Worldwide from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Tuesday, January 1st. BidaskClub downgraded ACI Worldwide from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, Stephens downgraded ACI Worldwide from an “overweight” rating to an “equal” rating and decreased their target price for the company from $33.00 to $30.00 in a research note on Thursday, January 3rd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. ACI Worldwide presently has a consensus rating of “Buy” and an average target price of $34.00.
Shares of ACI Worldwide stock traded up $0.26 during midday trading on Friday, hitting $33.97. 517,891 shares of the company were exchanged, compared to its average volume of 579,711. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market capitalization of $3.95 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.17. ACI Worldwide Inc has a 52 week low of $22.13 and a 52 week high of $34.98.
ACI Worldwide (NASDAQ:ACIW) last posted its earnings results on Thursday, February 28th. The technology company reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.05). ACI Worldwide had a return on equity of 9.17% and a net margin of 6.83%. The company had revenue of $319.95 million for the quarter, compared to the consensus estimate of $366.24 million. Equities analysts anticipate that ACI Worldwide Inc will post 1.14 earnings per share for the current fiscal year.
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ACI Worldwide Profile
ACI Worldwide, Inc provides software products and services for facilitating electronic payments to banks, financial intermediaries, merchants, and corporates worldwide. It offers UP Retail Payments solution that enables banks to accept, authorize, route, and secure payment transactions; and ACI Card and Merchant Management solutions, including credit, debit, smart card, and prepaid card issuance and management, as well as merchant account management and settlement.
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