ACI Worldwide (NASDAQ:ACIW) Stock Rating Upgraded by DA Davidson

ACI Worldwide (NASDAQ:ACIW) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Monday, Marketbeat Ratings reports. The brokerage presently has a $60.00 price target on the technology company’s stock. DA Davidson’s price objective would suggest a potential upside of 22.05% from the company’s current price.

ACI Worldwide Trading Up 0.8%

ACI Worldwide stock opened at $49.16 on Monday. The firm has a 50 day moving average of $52.39 and a 200 day moving average of $53.16. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 23.30 and a beta of 1.14. ACI Worldwide has a 12-month low of $33.32 and a 12-month high of $59.71. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72.

ACI Worldwide (NASDAQ:ACIW) last released its earnings results on Thursday, May 8th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. The company had revenue of $394.57 million during the quarter, compared to analyst estimates of $364.36 million. ACI Worldwide had a net margin of 14.04% and a return on equity of 21.67%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. As a group, research analysts predict that ACI Worldwide will post 2 earnings per share for the current year.

Insider Buying and Selling at ACI Worldwide

In other news, CEO Thomas W. Warsop III bought 5,000 shares of the stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $48.57 per share, for a total transaction of $242,850.00. Following the transaction, the chief executive officer now owns 326,922 shares of the company’s stock, valued at $15,878,601.54. The trade was a 1.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles E. Peters, Jr. sold 12,940 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $57.57, for a total value of $744,955.80. Following the transaction, the director now owns 80,842 shares of the company’s stock, valued at $4,654,073.94. This represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On ACI Worldwide

Several institutional investors have recently made changes to their positions in ACIW. Barclays PLC raised its holdings in ACI Worldwide by 244.0% in the third quarter. Barclays PLC now owns 226,173 shares of the technology company’s stock worth $11,513,000 after purchasing an additional 160,425 shares in the last quarter. Ritholtz Wealth Management raised its holdings in ACI Worldwide by 48.8% in the fourth quarter. Ritholtz Wealth Management now owns 53,797 shares of the technology company’s stock worth $2,793,000 after purchasing an additional 17,636 shares in the last quarter. SG Americas Securities LLC raised its holdings in ACI Worldwide by 30.7% in the fourth quarter. SG Americas Securities LLC now owns 10,140 shares of the technology company’s stock worth $526,000 after purchasing an additional 2,381 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in ACI Worldwide by 56.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 18,218 shares of the technology company’s stock worth $946,000 after purchasing an additional 6,602 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of ACI Worldwide during the fourth quarter valued at about $219,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

ACI Worldwide Company 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.