DA Davidson Issues Positive Forecast for ACI Worldwide (NASDAQ:ACIW) Stock Price

ACI Worldwide (NASDAQ:ACIW) had its price objective raised by DA Davidson from $60.00 to $64.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms have also commented on ACIW. 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. Zacks Research upgraded shares of ACI Worldwide from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Wall Street Zen downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.00.

ACI Worldwide Trading Up 3.5%

Shares of NASDAQ ACIW opened at $57.04 on Wednesday. ACI Worldwide has a 12 month low of $38.05 and a 12 month high of $57.60. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 28.66 and a beta of 0.98. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $46.52 and a 200-day simple moving average of $43.89.

ACI Worldwide (NASDAQ:ACIW) last issued 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. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The firm had revenue of $425.75 million for the quarter, compared to analysts’ expectations of $410.08 million. During the same quarter last year, the business posted $0.51 EPS. ACI Worldwide’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts predict that ACI Worldwide will post 2.69 EPS for the current year.

Institutional Investors Weigh In On ACI Worldwide

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its holdings 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 purchasing an additional 257 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in ACI Worldwide by 226.8% during the fourth quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company’s stock valued at $26,000 after buying an additional 372 shares in the last quarter. Essential Partners LLC lifted its position in shares of ACI Worldwide by 80.3% in the first quarter. Essential Partners LLC now owns 734 shares of the technology company’s stock worth $30,000 after buying an additional 327 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of ACI Worldwide during the 4th quarter worth about $37,000. Finally, State of Wyoming acquired a new position in shares of ACI Worldwide during the 2nd quarter valued at about $37,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.