Congress Asset Management Co. Acquires 144,917 Shares of ACI Worldwide, Inc. $ACIW

Congress Asset Management Co. boosted its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,737,223 shares of the technology company’s stock after acquiring an additional 144,917 shares during the period. Congress Asset Management Co.’s holdings in ACI Worldwide were worth $84,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ACIW. BlackRock Inc. bought a new position in ACI Worldwide during the second quarter worth $823,821,000. Norges Bank bought a new position in shares of ACI Worldwide in the fourth quarter valued at about $54,735,000. Rice Hall James & Associates LLC acquired a new stake in shares of ACI Worldwide during the 2nd quarter worth about $50,622,000. Bank of New York Mellon Corp acquired a new stake in shares of ACI Worldwide during the 2nd quarter worth about $31,949,000. Finally, North Star Asset Management Inc. bought a new stake in shares of ACI Worldwide during the 2nd quarter worth about $29,129,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ACIW shares. Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. DA Davidson restated a “buy” rating and set a $66.00 price objective on shares of ACI Worldwide in a report on Wednesday, September 2nd. Zacks Research raised ACI Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen lowered ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $66.00.

ACI Worldwide Stock Performance

Shares of ACIW stock traded down $0.51 on Tuesday, hitting $50.71. The company’s stock had a trading volume of 730,948 shares, compared to its average volume of 874,220. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.58 and a current ratio of 1.58. The stock’s 50 day moving average is $52.65 and its 200-day moving average is $48.12. ACI Worldwide, Inc. has a fifty-two week low of $38.05 and a fifty-two week high of $61.08. The company has a market capitalization of $5.12 billion, a PE ratio of 23.26 and a beta of 0.99.

ACI Worldwide Company Profile

ACI Worldwide, Inc is a global provider of payment software and electronic payment solutions. The company develops technology that enables banks, merchants, billers and other businesses to process digital payments, manage transactions and support real-time payment capabilities.

Its products and services include merchant payment processing, online and mobile payments, bill payment, account-to-account transfers, real-time payments, fraud prevention and transaction monitoring. ACI’s software is designed to support payment acceptance and processing across multiple channels, including e-commerce, mobile applications, automated teller machines and point-of-sale systems.

Founded in 1993 as Applied Communications, Inc, the company serves customers across North America, Europe, Asia-Pacific, Latin America and other international markets.