ACI Worldwide (ACIW) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of ACI Worldwide (NASDAQ:ACIW) from a strong-buy rating to a strong sell rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,000 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries as well as 300 of the leading global retailers rely on ACI to execute $14 trillion each day in payments. In addition, thousands of organizations utilize our electronic bill presentment and payment services. Through their comprehensive suite of software and SaaS-based solutions, they deliver real-time, any-to-any payments capabilities and enable the industry’s most complete omni-channel payments experience. “

ACIW has been the subject of several other reports. BidaskClub upgraded ACI Worldwide from a buy rating to a strong-buy rating in a research report on Wednesday, April 3rd. Stephens upgraded ACI Worldwide from an equal weight rating to an overweight rating and upped their price objective for the stock from $30.00 to $38.00 in a research report on Friday, March 8th. Finally, TheStreet downgraded ACI Worldwide from an a- rating to a c+ rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $34.00.

Shares of ACIW stock opened at $31.38 on Tuesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.67. ACI Worldwide has a twelve month low of $22.13 and a twelve month high of $35.86. The firm has a market cap of $3.46 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 4.01 and a beta of 1.18.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.07). ACI Worldwide had a return on equity of 8.39% and a net margin of 6.20%. The business had revenue of $205.90 million for the quarter, compared to the consensus estimate of $213.05 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. ACI Worldwide’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts expect that ACI Worldwide will post 0.65 earnings per share for the current fiscal year.

In related news, CEO Philip G. Heasley sold 166,572 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $32.28, for a total transaction of $5,376,944.16. Following the completion of the sale, the chief executive officer now directly owns 1,441,533 shares in the company, valued at approximately $46,532,685.24. The sale was disclosed in a filing with the SEC, which is available through this link. 4.49% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. acquired a new position in ACI Worldwide in the 1st quarter worth about $28,000. Flagship Harbor Advisors LLC acquired a new position in ACI Worldwide in the 1st quarter worth about $31,000. Fort L.P. acquired a new position in ACI Worldwide in the 4th quarter worth about $30,000. NumerixS Investment Technologies Inc increased its holdings in ACI Worldwide by 300.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the technology company’s stock worth $38,000 after purchasing an additional 900 shares in the last quarter. Finally, First Hawaiian Bank increased its holdings in ACI Worldwide by 137.3% in the 4th quarter. First Hawaiian Bank now owns 1,419 shares of the technology company’s stock worth $39,000 after purchasing an additional 821 shares in the last quarter.

ACI Worldwide Company 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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