ACI Worldwide, Inc. (ACIW) Now Covered by DA Davidson
Equities research analysts at DA Davidson assumed coverage on shares of ACI Worldwide, Inc. (NASDAQ:ACIW) in a report issued on Thursday. The firm set a “buy” rating and a $26.00 price target on the technology company’s stock. DA Davidson’s price target would suggest a potential upside of 14.39% from the stock’s previous close.
Other analysts have also issued reports about the stock. TheStreet lowered shares of ACI Worldwide from a “b” rating to a “c+” rating in a research report on Friday, May 5th. BidaskClub lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine upgraded shares of ACI Worldwide from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of ACI Worldwide from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $25.50.
ACI Worldwide (ACIW) opened at 22.73 on Thursday. The stock’s 50 day moving average price is $22.57 and its 200 day moving average price is $22.18. The firm has a market capitalization of $2.69 billion, a PE ratio of 105.23 and a beta of 1.33. ACI Worldwide has a one year low of $15.11 and a one year high of $24.65.
ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.11. The business had revenue of $240.60 million for the quarter, compared to analyst estimates of $225.87 million. ACI Worldwide had a net margin of 2.47% and a return on equity of 8.92%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) earnings per share. Analysts expect that ACI Worldwide will post $0.52 EPS for the current year.
In other news, CEO Philip G. Heasley bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average price of $21.32 per share, for a total transaction of $106,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John M. Shay, Jr. sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $23.19, for a total transaction of $463,800.00. Following the sale, the director now owns 81,896 shares in the company, valued at approximately $1,899,168.24. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in ACIW. Riverhead Capital Management LLC raised its stake in shares of ACI Worldwide by 62.0% in the second quarter. Riverhead Capital Management LLC now owns 6,157 shares of the technology company’s stock worth $138,000 after buying an additional 2,357 shares during the period. Quantbot Technologies LP purchased a new stake in shares of ACI Worldwide during the first quarter worth about $170,000. LS Investment Advisors LLC raised its stake in shares of ACI Worldwide by 1.2% in the first quarter. LS Investment Advisors LLC now owns 8,019 shares of the technology company’s stock worth $172,000 after buying an additional 93 shares during the period. Strs Ohio raised its stake in shares of ACI Worldwide by 113.2% in the first quarter. Strs Ohio now owns 8,100 shares of the technology company’s stock worth $173,000 after buying an additional 4,300 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in shares of ACI Worldwide during the first quarter worth about $204,000.
ACI Worldwide Company Profile
ACI Worldwide, Inc develops, markets, installs and supports a line of software products and services primarily focused on facilitating electronic payments. The Company also distributes or acts as a sales agent for software developed by third parties. Its products and services are used principally by financial institutions, retailers, billers and electronic payment processors, both in domestic and international markets.
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