ACI Worldwide, Inc. (NASDAQ:ACIW) Stock Position Reduced by Wedge Capital Management L L P NC

by · The Cerbat Gem

Wedge Capital Management L L P NC trimmed its position in ACI Worldwide, Inc. (NASDAQ:ACIW – Free Report) by 18.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,627 shares of the technology company’s stock after selling 13,695 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ACI Worldwide were worth $3,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ACIW. GAMMA Investing LLC boosted its holdings in ACI Worldwide by 49.3% in the second quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company’s stock worth $52,000 after purchasing an additional 431 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of ACI Worldwide by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,872 shares of the technology company’s stock valued at $2,331,000 after buying an additional 469 shares during the last quarter. EntryPoint Capital LLC raised its stake in ACI Worldwide by 7.3% during the first quarter. EntryPoint Capital LLC now owns 7,043 shares of the technology company’s stock worth $234,000 after acquiring an additional 478 shares during the period. Swiss National Bank lifted its holdings in ACI Worldwide by 0.3% in the first quarter. Swiss National Bank now owns 214,600 shares of the technology company’s stock worth $7,127,000 after acquiring an additional 600 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in ACI Worldwide by 123.3% in the second quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock valued at $45,000 after acquiring an additional 624 shares during the period. 94.74% of the stock is owned by institutional investors and hedge funds.

ACI Worldwide Trading Down 0.1 %

NASDAQ:ACIW opened at $52.63 on Wednesday. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 31.14 and a beta of 1.19. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.32 and a current ratio of 1.32. ACI Worldwide, Inc. has a 1 year low of $19.56 and a 1 year high of $53.29. The business has a fifty day moving average of $49.11 and a 200-day moving average of $41.16.

ACI Worldwide (NASDAQ:ACIW – Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.24. The firm had revenue of $373.48 million during the quarter, compared to analyst estimates of $349.95 million. ACI Worldwide had a net margin of 12.01% and a return on equity of 19.18%. Equities analysts predict that ACI Worldwide, Inc. will post 1.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACIW. Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a research report on Friday, August 2nd. StockNews.com cut ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. DA Davidson upped their price target on shares of ACI Worldwide from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their price objective on shares of ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, ACI Worldwide presently has an average rating of “Moderate Buy” and an average price target of $48.75.

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About ACI Worldwide

(Free Report)

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.

Further Reading

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