Fifth Third Bancorp Buys 55,427 Shares of ACI Worldwide, Inc. $ACIW

Fifth Third Bancorp boosted its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 6,606.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 56,266 shares of the technology company’s stock after purchasing an additional 55,427 shares during the quarter. Fifth Third Bancorp’s holdings in ACI Worldwide were worth $2,308,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jefferson Bridge Capital LLC bought a new stake in shares of ACI Worldwide in the 4th quarter worth about $1,176,000. JPMorgan Chase & Co. lifted its holdings in ACI Worldwide by 39.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 249,533 shares of the technology company’s stock valued at $13,168,000 after purchasing an additional 69,964 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in ACI Worldwide by 159.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 781,468 shares of the technology company’s stock valued at $37,362,000 after buying an additional 480,711 shares in the last quarter. Congress Asset Management Co. boosted its position in ACI Worldwide by 4.0% in the fourth quarter. Congress Asset Management Co. now owns 1,391,125 shares of the technology company’s stock valued at $66,510,000 after buying an additional 52,946 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in ACI Worldwide by 27.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 166,400 shares of the technology company’s stock worth $7,956,000 after buying an additional 35,700 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on ACIW shares. Wall Street Zen lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings raised ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. Zacks Research upgraded ACI Worldwide from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, DA Davidson raised their price target on ACI Worldwide from $60.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.00.

ACI Worldwide Trading Down 0.3%

Shares of NASDAQ ACIW opened at $56.69 on Wednesday. ACI Worldwide, Inc. has a 1-year low of $38.05 and a 1-year high of $60.17. The company has a market cap of $5.76 billion, a PE ratio of 28.49 and a beta of 0.98. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average of $47.59 and a two-hundred day moving average of $44.15.

ACI Worldwide (NASDAQ:ACIW) last announced its earnings results on Thursday, May 7th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.16. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. The company had revenue of $425.75 million for the quarter, compared to analyst estimates of $410.08 million. During the same period in the prior year, the business earned $0.51 earnings per share. ACI Worldwide’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts expect that ACI Worldwide, Inc. will post 2.69 earnings per share for the current fiscal year.

About ACI Worldwide

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.