River Road Asset Management LLC reduced its holdings in shares of ACI Worldwide Inc (NASDAQ:ACIW) by 57.0% in the 1st quarter, HoldingsChannel reports. The fund owned 317,605 shares of the technology company’s stock after selling 421,476 shares during the period. River Road Asset Management LLC’s holdings in ACI Worldwide were worth $10,440,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC bought a new position in shares of ACI Worldwide in the first quarter valued at $31,000. Fort L.P. acquired a new stake in shares of ACI Worldwide during the fourth quarter worth $30,000. First Hawaiian Bank lifted its holdings in shares of ACI Worldwide by 137.3% during the fourth quarter. First Hawaiian Bank now owns 1,419 shares of the technology company’s stock worth $39,000 after buying an additional 821 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of ACI Worldwide during the fourth quarter worth $74,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of ACI Worldwide by 17.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,127 shares of the technology company’s stock worth $86,000 after buying an additional 465 shares in the last quarter.
In other ACI Worldwide news, CEO Philip G. Heasley sold 166,572 shares of ACI Worldwide stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $32.28, for a total value of $5,376,944.16. Following the transaction, the chief executive officer now owns 1,441,533 shares in the company, valued at $46,532,685.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.42% of the company’s stock.
ACI Worldwide (NASDAQ:ACIW) last released its earnings results on Thursday, May 9th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.07). ACI Worldwide had a net margin of 6.83% and a return on equity of 9.17%. The business had revenue of $205.90 million during the quarter, compared to the consensus estimate of $213.05 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that ACI Worldwide Inc will post 1.14 earnings per share for the current year.
A number of brokerages recently commented on ACIW. BidaskClub upgraded ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 3rd. Zacks Investment Research cut ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Stephens upgraded ACI Worldwide from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $30.00 to $38.00 in a research report on Friday, March 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $34.00.
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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