Bank of America Corp DE lowered its stake in ACI Worldwide, Inc. (NASDAQ:ACIW – Get Rating) by 23.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003,159 shares of the technology company's stock after selling 303,601 shares during the period. Bank of America Corp DE owned about 0.87% of ACI Worldwide worth $31,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of ACIW. Counterpoint Mutual Funds LLC acquired a new stake in shares of ACI Worldwide during the 1st quarter worth about $65,000. Point72 Hong Kong Ltd purchased a new position in shares of ACI Worldwide in the 4th quarter valued at approximately $87,000. Quantbot Technologies LP purchased a new position in shares of ACI Worldwide in the 1st quarter valued at approximately $146,000. Laurel Wealth Advisors Inc. purchased a new stake in shares of ACI Worldwide in the fourth quarter valued at approximately $205,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of ACI Worldwide in the first quarter valued at approximately $211,000. Institutional investors and hedge funds own 96.31% of the company's stock.
Get ACI Worldwide alerts:ACI Worldwide Stock Down 0.8 %
ACIW opened at $20.90 on Friday. ACI Worldwide, Inc. has a 12 month low of $20.19 and a 12 month high of $36.01. The stock has a market cap of $2.38 billion, a P/E ratio of 16.08 and a beta of 1.10. The stock's 50 day moving average price is $24.25 and its 200 day moving average price is $26.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 1.24.
ACI Worldwide (NASDAQ:ACIW – Get Rating) last issued its earnings results on Thursday, August 4th. The technology company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $340.40 million for the quarter, compared to analysts' expectations of $330.22 million. ACI Worldwide had a return on equity of 17.24% and a net margin of 10.51%. The company's quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. As a group, research analysts predict that ACI Worldwide, Inc. will post 2.02 earnings per share for the current year.Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on ACIW. StockNews.com downgraded ACI Worldwide from a "buy" rating to a "hold" rating in a research note on Friday, August 5th. Stephens initiated coverage on ACI Worldwide in a research note on Thursday, July 14th. They set an "overweight" rating and a $31.00 price target for the company. Finally, Needham & Company LLC lowered their target price on ACI Worldwide from $37.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, September 2nd.
ACI Worldwide Company Profile
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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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