ACI Worldwide, Inc. (ACIW) Receives Average Rating of “Buy” from Brokerages
Shares of ACI Worldwide, Inc. (NASDAQ:ACIW) have earned an average rating of “Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $25.00.
ACIW has been the topic of several research reports. Zacks Investment Research lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. DA Davidson initiated coverage on shares of ACI Worldwide in a report on Thursday, August 31st. They issued a “buy” rating and a $26.00 price target on the stock. Finally, BidaskClub upgraded shares of ACI Worldwide from a “sell” rating to a “hold” rating in a report on Monday, August 14th.
In other news, Director John M. Shay, Jr. sold 20,000 shares of ACI Worldwide stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $23.19, for a total transaction of $463,800.00. Following the sale, the director now owns 81,896 shares in the company, valued at $1,899,168.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip G. Heasley acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average price of $21.32 per share, for a total transaction of $106,600.00. The disclosure for this purchase can be found here. Company insiders own 4.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of ACI Worldwide during the first quarter valued at approximately $280,000. Schwab Charles Investment Management Inc. raised its stake in shares of ACI Worldwide by 6.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 578,261 shares of the technology company’s stock valued at $12,370,000 after purchasing an additional 35,397 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of ACI Worldwide by 127.8% during the second quarter. BNP Paribas Arbitrage SA now owns 60,701 shares of the technology company’s stock valued at $1,358,000 after purchasing an additional 34,050 shares during the period. Arizona State Retirement System increased its stake in shares of ACI Worldwide by 2.0% in the second quarter. Arizona State Retirement System now owns 49,800 shares of the technology company’s stock worth $1,114,000 after buying an additional 1,000 shares during the last quarter. Finally, Tuttle Tactical Management LLC bought a new stake in shares of ACI Worldwide in the second quarter worth $287,000.
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Shares of ACI Worldwide (ACIW) opened at 24.20 on Friday. The company’s 50-day moving average is $23.25 and its 200 day moving average is $22.66. ACI Worldwide has a 52 week low of $15.11 and a 52 week high of $24.65. The stock has a market capitalization of $2.86 billion, a P/E ratio of 112.04 and a beta of 1.34.
ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.11. ACI Worldwide had a net margin of 2.47% and a return on equity of 8.92%. The firm had revenue of $240.60 million for the quarter, compared to analyst estimates of $225.87 million. During the same quarter last year, the firm posted ($0.15) earnings per share. ACI Worldwide’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that ACI Worldwide will post $0.52 EPS for the current fiscal year.
About ACI Worldwide
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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