Palisade Capital Management LP Buys Shares of 333,856 ACI Worldwide, Inc. $ACIW

Palisade Capital Management LP bought a new position in ACI Worldwide, Inc. (NASDAQ:ACIW) during the 2nd quarter, HoldingsChannel reports. The firm bought 333,856 shares of the technology company’s stock, valued at approximately $16,790,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC increased its position in shares of ACI Worldwide by 160.4% in the 1st quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock valued at $8,634,000 after buying an additional 97,206 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in ACI Worldwide by 93.4% during the first quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock worth $81,000 after acquiring an additional 711 shares in the last quarter. Caxton Associates LLP acquired a new position in ACI Worldwide in the first quarter valued at about $259,000. Empowered Funds LLC grew its stake in ACI Worldwide by 64.2% in the first quarter. Empowered Funds LLC now owns 16,362 shares of the technology company’s stock valued at $895,000 after acquiring an additional 6,399 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of ACI Worldwide by 13.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 407,332 shares of the technology company’s stock worth $22,285,000 after acquiring an additional 48,988 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACIW has been the topic of a number of research analyst reports. Weiss Ratings raised ACI Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. DA Davidson set a $66.00 price objective on ACI Worldwide and gave the company a “buy” rating in a research report on Friday, August 7th. Wall Street Zen cut ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research raised shares of ACI Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, ACI Worldwide currently has a consensus rating of “Buy” and a consensus price target of $66.00.

ACI Worldwide Stock Performance

ACIW opened at $52.40 on Wednesday. The business’s 50-day moving average price is $53.47 and its two-hundred day moving average price is $45.98. ACI Worldwide, Inc. has a 1 year low of $38.05 and a 1 year high of $61.08. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 24.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.58.

About ACI Worldwide

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.