Q3 2024 Earnings Forecast for ACI Worldwide, Inc. (NASDAQ:ACIW) Issued By Seaport Res Ptn

ACI Worldwide, Inc. (NASDAQ:ACIW) – Stock analysts at Seaport Res Ptn reduced their Q3 2024 earnings estimates for ACI Worldwide in a research note issued to investors on Tuesday, April 30th. Seaport Res Ptn analyst J. Cantwell now expects that the technology company will earn $0.38 per share for the quarter, down from their prior estimate of $0.42. The consensus estimate for ACI Worldwide’s current full-year earnings is $1.83 per share. Seaport Res Ptn also issued estimates for ACI Worldwide’s Q4 2024 earnings at $1.32 EPS.

ACI Worldwide (NASDAQ:ACIW) last posted its earnings results on Thursday, February 29th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.17. The business had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $476.43 million. ACI Worldwide had a net margin of 9.88% and a return on equity of 17.31%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS.

ACIW has been the topic of several other reports. Jefferies Financial Group initiated coverage on shares of ACI Worldwide in a research report on Friday, March 8th. They issued a “buy” rating and a $38.00 price objective on the stock. DA Davidson upped their target price on ACI Worldwide from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. Canaccord Genuity Group reissued a “buy” rating and set a $40.00 price target on shares of ACI Worldwide in a research note on Friday, March 15th. StockNews.com raised shares of ACI Worldwide from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

ACI Worldwide Stock Performance

NASDAQ:ACIW opened at $35.12 on Friday. The stock has a market cap of $3.73 billion, a P/E ratio of 26.21 and a beta of 1.20. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. The business’s 50-day moving average price is $32.33 and its two-hundred day moving average price is $29.29. ACI Worldwide has a twelve month low of $19.56 and a twelve month high of $36.37.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in ACI Worldwide by 812.5% in the 3rd quarter. SG Americas Securities LLC now owns 39,859 shares of the technology company’s stock worth $899,000 after acquiring an additional 35,491 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of ACI Worldwide by 28.5% in the third quarter. Handelsbanken Fonder AB now owns 21,334 shares of the technology company’s stock worth $481,000 after purchasing an additional 4,737 shares during the last quarter. Reinhart Partners LLC. raised its position in ACI Worldwide by 5.8% during the 3rd quarter. Reinhart Partners LLC. now owns 2,062,364 shares of the technology company’s stock valued at $46,527,000 after purchasing an additional 112,871 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ACI Worldwide by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,701 shares of the technology company’s stock worth $444,000 after buying an additional 2,598 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of ACI Worldwide by 23.5% in the 3rd quarter. Mackenzie Financial Corp now owns 56,417 shares of the technology company’s stock worth $1,170,000 after buying an additional 10,721 shares during the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.

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.