ACI Worldwide, Inc. (NASDAQ:ACIW – Get Rating) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 3,200,000 shares, a drop of 7.5% from the August 15th total of 3,460,000 shares. Based on an average daily trading volume, of 679,300 shares, the short-interest ratio is currently 4.7 days. Currently, 2.9% of the shares of the company are sold short.
Wall Street Analyst Weigh In
A number of research firms have weighed in on ACIW. Needham & Company LLC decreased their target price on shares of ACI Worldwide from $37.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, September 2nd. Stephens assumed coverage on shares of ACI Worldwide in a report on Thursday, July 14th. They issued an "overweight" rating and a $31.00 target price for the company. Finally, StockNews.com cut shares of ACI Worldwide from a "buy" rating to a "hold" rating in a report on Friday, August 5th.
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Institutional Investors Weigh In On ACI Worldwide
Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of ACI Worldwide in the second quarter valued at $39,000. Counterpoint Mutual Funds LLC bought a new position in ACI Worldwide in the 1st quarter valued at $65,000. Assetmark Inc. grew its stake in ACI Worldwide by 368.9% in the 2nd quarter. Assetmark Inc. now owns 2,851 shares of the technology company's stock valued at $74,000 after purchasing an additional 2,243 shares during the period. Eagle Bay Advisors LLC grew its stake in shares of ACI Worldwide by 139.3% during the 2nd quarter. Eagle Bay Advisors LLC now owns 3,065 shares of the technology company's stock worth $79,000 after acquiring an additional 1,784 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in ACI Worldwide during the 4th quarter worth about $87,000. Institutional investors own 96.31% of the company's stock.
ACI Worldwide Trading Down 1.3 %
NASDAQ ACIW opened at $21.46 on Thursday. The firm has a market capitalization of $2.45 billion, a PE ratio of 16.51 and a beta of 1.10. The company has a 50-day simple moving average of $25.11 and a 200-day simple moving average of $27.01. ACI Worldwide has a one year low of $21.37 and a one year high of $36.01. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.24 and a current ratio of 1.24.
ACI Worldwide (NASDAQ:ACIW – Get Rating) last released its earnings results on Thursday, August 4th. The technology company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $340.40 million for the quarter, compared to the consensus estimate of $330.22 million. ACI Worldwide had a net margin of 10.51% and a return on equity of 17.24%. The firm's quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. On average, equities analysts forecast that ACI Worldwide will post 2.02 earnings per share for the current year.
About ACI Worldwide
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ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments to banks, merchants, and billers worldwide. The company offers ACI Acquiring, a merchant management system to deliver digital innovation, improve fraud prevention, and reduce interchange fees; ACI Issuing, a digital payments issuing solution; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.
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