ACI Worldwide (NASDAQ:ACIW) Hits New 12-Month High – Time to Buy?

ACI Worldwide, Inc. (NASDAQ:ACIW)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $57.04 and last traded at $55.62, with a volume of 1056686 shares. The stock had previously closed at $55.93.

Wall Street Analysts Forecast Growth

ACIW has been the topic of a number of recent research reports. DA Davidson reiterated a “buy” rating and issued a $60.00 target price on shares of ACI Worldwide in a research report on Monday, May 11th. Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. Wall Street Zen downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Research upgraded shares of ACI Worldwide from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, ACI Worldwide currently has an average rating of “Moderate Buy” and an average price target of $60.00.

ACI Worldwide Stock Down 0.6%

The company has a market cap of $5.65 billion, a price-to-earnings ratio of 27.95 and a beta of 0.98. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $45.00 and a two-hundred day moving average of $43.59.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.16. The company had revenue of $425.75 million during the quarter, compared to analysts’ expectations of $410.08 million. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, equities analysts anticipate that ACI Worldwide, Inc. will post 2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On ACI Worldwide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACIW. Jefferson Bridge Capital LLC acquired a new position in shares of ACI Worldwide during the 4th quarter valued at about $1,176,000. JPMorgan Chase & Co. increased its position in ACI Worldwide by 39.0% during the third quarter. JPMorgan Chase & Co. now owns 249,533 shares of the technology company’s stock worth $13,168,000 after purchasing an additional 69,964 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in ACI Worldwide by 159.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 781,468 shares of the technology company’s stock worth $37,362,000 after purchasing an additional 480,711 shares during the period. Congress Asset Management Co. boosted its holdings in ACI Worldwide by 4.0% in the 4th quarter. Congress Asset Management Co. now owns 1,391,125 shares of the technology company’s stock valued at $66,510,000 after purchasing an additional 52,946 shares during the last quarter. Finally, London Co. of Virginia grew its stake in shares of ACI Worldwide by 91.0% in the 3rd quarter. London Co. of Virginia now owns 1,732,941 shares of the technology company’s stock valued at $91,448,000 after buying an additional 825,671 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

ACI Worldwide Company Profile

ACI Worldwide (NASDAQ:ACIW) is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company’s platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI’s modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.