Bank of New York Mellon Corp Cuts Stock Holdings in ACI Worldwide, Inc. $ACIW

Bank of New York Mellon Corp reduced its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 628,457 shares of the technology company’s stock after selling 8,862 shares during the period. Bank of New York Mellon Corp’s holdings in ACI Worldwide were worth $25,773,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ACIW. Farther Finance Advisors LLC increased its stake in ACI Worldwide by 226.8% in the 4th quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company’s stock worth $26,000 after acquiring an additional 372 shares during the last quarter. Allworth Financial LP boosted its position in shares of ACI Worldwide by 93.5% during the 3rd quarter. Allworth Financial LP now owns 532 shares of the technology company’s stock valued at $28,000 after acquiring an additional 257 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of ACI Worldwide during the 4th quarter valued at approximately $37,000. State of Wyoming purchased a new position in shares of ACI Worldwide in the second quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of ACI Worldwide by 122.1% in the second quarter. EverSource Wealth Advisors LLC now owns 944 shares of the technology company’s stock valued at $43,000 after purchasing an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

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

ACI Worldwide Stock Performance

NASDAQ ACIW opened at $57.88 on Tuesday. The business’s 50 day moving average price is $48.73 and its 200-day moving average price is $44.42. ACI Worldwide, Inc. has a fifty-two week low of $38.05 and a fifty-two week high of $60.17. The company has a market cap of $5.88 billion, a P/E ratio of 29.09 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 1.53.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly 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. The company had revenue of $425.75 million during the quarter, compared to the consensus estimate of $410.08 million. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.ACI Worldwide’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. Sell-side analysts predict that ACI Worldwide, Inc. will post 2.69 earnings per share for the current year.

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.