Citigroup Inc. Sells 49,318 Shares of ACI Worldwide, Inc. $ACIW

Citigroup Inc. lowered its position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 38.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 79,717 shares of the technology company’s stock after selling 49,318 shares during the period. Citigroup Inc.’s holdings in ACI Worldwide were worth $4,207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in ACI Worldwide by 166.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 378,990 shares of the technology company’s stock valued at $19,999,000 after purchasing an additional 236,878 shares during the period. AlphaQuest LLC purchased a new stake in ACI Worldwide during the 3rd quarter valued at approximately $1,427,000. Congress Asset Management Co. raised its position in shares of ACI Worldwide by 13.1% during the third quarter. Congress Asset Management Co. now owns 1,338,179 shares of the technology company’s stock valued at $70,616,000 after buying an additional 154,817 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of ACI Worldwide by 19.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,014,534 shares of the technology company’s stock worth $53,537,000 after buying an additional 162,427 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its holdings in shares of ACI Worldwide by 3.7% in the third quarter. Reinhart Partners LLC. now owns 1,023,938 shares of the technology company’s stock worth $54,034,000 after buying an additional 36,897 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

ACI Worldwide Stock Up 2.5%

Shares of NASDAQ ACIW opened at $42.44 on Thursday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 19.56 and a beta of 1.07. ACI Worldwide, Inc. has a 12-month low of $38.05 and a 12-month high of $57.49. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $43.28 and its 200-day moving average price is $47.02.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). The company had revenue of $481.60 million for the quarter, compared to the consensus estimate of $465.20 million. ACI Worldwide had a return on equity of 16.44% and a net margin of 12.88%.The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share. On average, equities research analysts anticipate that ACI Worldwide, Inc. will post 2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Adalio T. Sanchez acquired 3,000 shares of ACI Worldwide stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average cost of $40.98 per share, with a total value of $122,940.00. Following the transaction, the director directly owned 64,378 shares of the company’s stock, valued at $2,638,210.44. This trade represents a 4.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Juan Benitez II bought 2,400 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were acquired at an average cost of $41.90 per share, for a total transaction of $100,560.00. Following the purchase, the director owned 16,881 shares of the company’s stock, valued at approximately $707,313.90. The trade was a 16.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of ACI Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

ACI Worldwide Profile

ACI Worldwide (NASDAQ:ACIW) is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company’s platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI’s modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.