Ritholtz Wealth Management Trims Stock Position in ACI Worldwide, Inc. $ACIW

Ritholtz Wealth Management lessened its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW) by 24.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,524 shares of the technology company’s stock after selling 17,210 shares during the period. Ritholtz Wealth Management’s holdings in ACI Worldwide were worth $2,877,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System increased its holdings in ACI Worldwide by 0.7% during the second quarter. Maryland State Retirement & Pension System now owns 30,828 shares of the technology company’s stock valued at $1,415,000 after buying an additional 223 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ACI Worldwide by 13.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,096 shares of the technology company’s stock worth $96,000 after acquiring an additional 249 shares during the last quarter. Profund Advisors LLC grew its position in shares of ACI Worldwide by 5.9% during the 2nd quarter. Profund Advisors LLC now owns 5,233 shares of the technology company’s stock valued at $240,000 after acquiring an additional 293 shares during the period. Advisors Asset Management Inc. increased its stake in shares of ACI Worldwide by 68.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 733 shares of the technology company’s stock worth $34,000 after purchasing an additional 298 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in ACI Worldwide by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 18,949 shares of the technology company’s stock worth $870,000 after purchasing an additional 317 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ACI Worldwide news, CTO Abraham Kuruvilla sold 4,210 shares of ACI Worldwide stock in a transaction on Monday, November 10th. The shares were sold at an average price of $47.69, for a total value of $200,774.90. Following the sale, the chief technology officer directly owned 96,897 shares in the company, valued at approximately $4,621,017.93. The trade was a 4.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

ACI Worldwide Stock Down 1.1%

Shares of ACIW opened at $42.99 on Friday. The business’s 50 day moving average is $46.95 and its 200 day moving average is $47.74. The company has a market capitalization of $4.43 billion, a PE ratio of 17.33 and a beta of 1.05. ACI Worldwide, Inc. has a 12-month low of $40.45 and a 12-month high of $58.14. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.56.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. ACI Worldwide had a return on equity of 18.97% and a net margin of 15.07%.The business had revenue of $482.36 million during the quarter, compared to the consensus estimate of $465.09 million. During the same period in the prior year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts expect that ACI Worldwide, Inc. will post 2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ACIW. Weiss Ratings reissued a “hold (c+)” rating on shares of ACI Worldwide in a report on Monday, December 29th. DA Davidson reaffirmed a “buy” rating and set a $60.00 price objective on shares of ACI Worldwide in a research report on Thursday, October 16th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.00.

ACI Worldwide 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.