ACI Worldwide, Inc. (NASDAQ:ACIW – Get Free Report)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $36.46 and last traded at $36.42, with a volume of 140602 shares trading hands. The stock had previously closed at $35.89.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on ACIW shares. DA Davidson upped their price target on shares of ACI Worldwide from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Jefferies Financial Group started coverage on shares of ACI Worldwide in a research report on Friday, March 8th. They issued a “buy” rating and a $38.00 target price on the stock. Canaccord Genuity Group restated a “buy” rating and set a $40.00 price target on shares of ACI Worldwide in a research report on Friday, March 15th. Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a report on Wednesday, May 1st. Finally, StockNews.com upgraded ACI Worldwide from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, ACI Worldwide presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.
Read Our Latest Stock Report on ACIW
ACI Worldwide Trading Up 0.8 %
ACI Worldwide (NASDAQ:ACIW – Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.17. ACI Worldwide had a net margin of 9.88% and a return on equity of 17.31%. The business had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $476.43 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that ACI Worldwide, Inc. will post 1.9 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in ACIW. Covestor Ltd boosted its position in shares of ACI Worldwide by 136.6% during the third quarter. Covestor Ltd now owns 1,417 shares of the technology company’s stock valued at $32,000 after purchasing an additional 818 shares in the last quarter. Strs Ohio raised its position in shares of ACI Worldwide by 142.9% in the 3rd quarter. Strs Ohio now owns 1,700 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in ACI Worldwide by 3.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 11,998 shares of the technology company’s stock worth $271,000 after purchasing an additional 444 shares in the last quarter. Assetmark Inc. increased its stake in ACI Worldwide by 18.2% during the 3rd quarter. Assetmark Inc. now owns 12,238 shares of the technology company’s stock valued at $276,000 after purchasing an additional 1,885 shares in the last quarter. Finally, Watershed Asset Management L.L.C. bought a new position in shares of ACI Worldwide in the fourth quarter worth approximately $296,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.
About ACI Worldwide
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.
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