Ritholtz Wealth Management Decreases Stock Holdings in ACI Worldwide, Inc. $ACIW

Ritholtz Wealth Management trimmed its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 82.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,981 shares of the technology company’s stock after selling 28,978 shares during the period. Ritholtz Wealth Management’s holdings in ACI Worldwide were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in ACI Worldwide by 79.6% in the third quarter. Franklin Resources Inc. now owns 9,659,385 shares of the technology company’s stock valued at $509,726,000 after acquiring an additional 4,280,684 shares in the last quarter. Millennium Management LLC increased its position in shares of ACI Worldwide by 879.8% during the third quarter. Millennium Management LLC now owns 1,430,404 shares of the technology company’s stock worth $75,482,000 after purchasing an additional 1,284,419 shares in the last quarter. Norges Bank acquired a new stake in shares of ACI Worldwide during the fourth quarter worth about $54,735,000. Fuller & Thaler Asset Management Inc. increased its position in shares of ACI Worldwide by 90.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,816,588 shares of the technology company’s stock worth $86,851,000 after purchasing an additional 861,779 shares in the last quarter. Finally, London Co. of Virginia lifted its holdings in shares of ACI Worldwide by 91.0% in the 3rd quarter. London Co. of Virginia now owns 1,732,941 shares of the technology company’s stock valued at $91,448,000 after purchasing an additional 825,671 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

ACI Worldwide Price Performance

ACI Worldwide stock opened at $54.88 on Friday. ACI Worldwide, Inc. has a one year low of $38.05 and a one year high of $54.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 1.53. The business has a fifty day moving average of $44.27 and a two-hundred day moving average of $43.42. The company has a market cap of $5.58 billion, a P/E ratio of 27.58 and a beta of 0.98.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.16. The business had revenue of $425.75 million for the quarter, compared to analysts’ expectations of $410.08 million. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. As a group, analysts predict that ACI Worldwide, Inc. will post 2.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACIW has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Zacks Research upgraded ACI Worldwide from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. DA Davidson reaffirmed a “buy” rating and set a $60.00 price objective on shares of ACI Worldwide in a research note on Monday, May 11th. Finally, Wall Street Zen cut ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, ACI Worldwide currently has a consensus rating of “Moderate Buy” and an average price target 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.