Citigroup Inc. Increases Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Citigroup Inc. increased its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW) by 46.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,509 shares of the technology company’s stock after acquiring an additional 50,145 shares during the quarter. Citigroup Inc. owned approximately 0.15% of ACI Worldwide worth $8,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hood River Capital Management LLC raised its holdings in shares of ACI Worldwide by 44.9% in the 2nd quarter. Hood River Capital Management LLC now owns 2,400,340 shares of the technology company’s stock valued at $95,029,000 after purchasing an additional 743,595 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in ACI Worldwide by 144.1% in the third quarter. Assenagon Asset Management S.A. now owns 482,740 shares of the technology company’s stock worth $24,571,000 after buying an additional 285,001 shares in the last quarter. Swedbank AB lifted its holdings in ACI Worldwide by 228.6% during the second quarter. Swedbank AB now owns 328,600 shares of the technology company’s stock worth $13,009,000 after buying an additional 228,600 shares during the period. Great Lakes Advisors LLC bought a new stake in ACI Worldwide during the 2nd quarter valued at $7,696,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of ACI Worldwide in the 2nd quarter valued at $7,353,000. 94.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ACI Worldwide news, Director Adalio T. Sanchez sold 1,200 shares of ACI Worldwide stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.28, for a total transaction of $68,736.00. Following the completion of the sale, the director now owns 43,272 shares of the company’s stock, valued at approximately $2,478,620.16. The trade was a 2.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ACIW has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price objective on ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stephens cut shares of ACI Worldwide from an “overweight” rating to an “equal weight” rating in a report on Friday, October 18th. StockNews.com downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. DA Davidson cut shares of ACI Worldwide from a “buy” rating to a “neutral” rating and increased their target price for the company from $57.00 to $60.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, ACI Worldwide presently has an average rating of “Hold” and an average price target of $49.50.

ACI Worldwide Stock Performance

ACIW opened at $56.82 on Friday. The company has a market cap of $5.96 billion, a P/E ratio of 26.93 and a beta of 1.19. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $52.45 and its 200-day moving average price is $45.50. ACI Worldwide, Inc. has a 52-week low of $26.43 and a 52-week high of $59.71.

ACI Worldwide Profile

ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments in the United States and internationally. The company operates in three segments: Banks, Merchants, and Billers. The company offers ACI Acquiring, a solution to process credit, debit, and prepaid card transactions, deliver digital innovation, and fraud prevention; ACI Issuing, a digital payment issuing solution for new payment offering; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.