ACI Worldwide, Inc. (ACIW) Position Raised by Fred Alger Management Inc.
Fred Alger Management Inc. increased its position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 11.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 959,149 shares of the technology company’s stock after purchasing an additional 100,302 shares during the quarter. Fred Alger Management Inc. owned 0.81% of ACI Worldwide worth $21,456,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverhead Capital Management LLC lifted its position in ACI Worldwide by 62.0% during the second quarter. Riverhead Capital Management LLC now owns 6,157 shares of the technology company’s stock worth $138,000 after purchasing an additional 2,357 shares during the period. Quantbot Technologies LP bought a new stake in ACI Worldwide during the first quarter worth about $170,000. Strs Ohio lifted its position in ACI Worldwide by 113.2% during the first quarter. Strs Ohio now owns 8,100 shares of the technology company’s stock worth $173,000 after purchasing an additional 4,300 shares during the period. LS Investment Advisors LLC lifted its position in ACI Worldwide by 17.4% during the second quarter. LS Investment Advisors LLC now owns 9,416 shares of the technology company’s stock worth $211,000 after purchasing an additional 1,397 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in ACI Worldwide during the first quarter worth about $204,000.
A number of research analysts have recently commented on ACIW shares. BidaskClub cut shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Zacks Investment Research raised shares of ACI Worldwide from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a report on Monday, July 31st. Finally, DA Davidson started coverage on shares of ACI Worldwide in a report on Thursday, August 31st. They issued a “buy” rating and a $26.00 target price for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $25.50.
In other ACI Worldwide news, CEO Philip G. Heasley acquired 5,000 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $21.32 per share, with a total value of $106,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John M. Shay, Jr. sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $23.19, for a total value of $463,800.00. Following the transaction, the director now directly owns 81,896 shares of the company’s stock, 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 insiders.
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ACI Worldwide, Inc. (ACIW) traded up 0.34% on Thursday, hitting $23.33. 13,378 shares of the stock were exchanged. ACI Worldwide, Inc. has a 52-week low of $15.11 and a 52-week high of $24.65. The company has a 50-day moving average price of $22.54 and a 200-day moving average price of $22.47. The firm has a market cap of $2.76 billion, a PE ratio of 108.01 and a beta of 1.34.
ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.11. ACI Worldwide had a return on equity of 8.92% and a net margin of 2.47%. The company had revenue of $240.60 million during the quarter, compared to analyst estimates of $225.87 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. ACI Worldwide’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that ACI Worldwide, Inc. will post $0.52 EPS for the current fiscal year.
ACI Worldwide 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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