Moran Wealth Management LLC Reduces Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Moran Wealth Management LLC lowered its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW) by 8.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,789 shares of the technology company’s stock after selling 333 shares during the period. Moran Wealth Management LLC’s holdings in ACI Worldwide were worth $207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in ACI Worldwide in the 1st quarter worth approximately $25,000. Blue Trust Inc. lifted its stake in shares of ACI Worldwide by 104.9% in the 4th quarter. Blue Trust Inc. now owns 582 shares of the technology company’s stock valued at $30,000 after purchasing an additional 298 shares during the period. Covestor Ltd lifted its stake in shares of ACI Worldwide by 239.4% in the 4th quarter. Covestor Ltd now owns 594 shares of the technology company’s stock valued at $31,000 after purchasing an additional 419 shares during the period. Versant Capital Management Inc lifted its stake in shares of ACI Worldwide by 121.3% in the 1st quarter. Versant Capital Management Inc now owns 885 shares of the technology company’s stock valued at $48,000 after purchasing an additional 485 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of ACI Worldwide by 278.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,899 shares of the technology company’s stock valued at $99,000 after purchasing an additional 1,397 shares during the period. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analyst Ratings Changes

ACIW has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their target price on ACI Worldwide from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, May 27th. Wall Street Zen upgraded ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Finally, DA Davidson upgraded ACI Worldwide from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Insider Buying and Selling at ACI Worldwide

In other ACI Worldwide news, CEO Thomas W. Warsop III bought 5,000 shares of ACI Worldwide stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $48.57 per share, with a total value of $242,850.00. Following the acquisition, the chief executive officer now owns 326,922 shares in the company, valued at approximately $15,878,601.54. This trade represents a 1.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Janet O. Estep sold 4,500 shares of ACI Worldwide stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $44.66, for a total value of $200,970.00. Following the completion of the sale, the director now directly owns 77,631 shares of the company’s stock, valued at approximately $3,467,000.46. The trade was a 5.48% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

ACI Worldwide Stock Up 0.2%

Shares of NASDAQ:ACIW opened at $45.49 on Friday. The stock has a fifty day simple moving average of $48.32 and a two-hundred day simple moving average of $51.29. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 17.91 and a beta of 1.07. ACI Worldwide, Inc. has a 12-month low of $38.59 and a 12-month high of $59.71. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.18. The business had revenue of $394.57 million during the quarter, compared to analysts’ expectations of $364.36 million. ACI Worldwide had a return on equity of 20.94% and a net margin of 16.12%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, research analysts anticipate that ACI Worldwide, Inc. will post 2 earnings per share for the current fiscal year.

About ACI Worldwide

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.