Ritholtz Wealth Management Trims Stock Position in ACI Worldwide, Inc. $ACIW

Ritholtz Wealth Management trimmed its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 24.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,524 shares of the technology company’s stock after selling 17,210 shares during the period. Ritholtz Wealth Management owned 0.05% of ACI Worldwide worth $2,877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ACIW. Congress Asset Management Co. grew its holdings in ACI Worldwide by 13.1% in the third quarter. Congress Asset Management Co. now owns 1,338,179 shares of the technology company’s stock worth $70,616,000 after purchasing an additional 154,817 shares during the period. Allianz Asset Management GmbH grew its stake in shares of ACI Worldwide by 4.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 224,171 shares of the technology company’s stock worth $10,292,000 after buying an additional 8,597 shares during the last quarter. Capital Fund Management S.A. grew its stake in shares of ACI Worldwide by 242.4% in the 2nd quarter. Capital Fund Management S.A. now owns 46,412 shares of the technology company’s stock worth $2,131,000 after buying an additional 32,858 shares during the last quarter. Paralel Advisors LLC bought a new position in ACI Worldwide during the 2nd quarter valued at approximately $2,242,000. Finally, Boston Partners purchased a new position in ACI Worldwide during the second quarter valued at $944,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ACIW shares. DA Davidson reissued a “buy” rating and issued a $60.00 target price on shares of ACI Worldwide in a report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ACI Worldwide in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.00.

ACI Worldwide Stock Performance

Shares of NASDAQ ACIW opened at $42.99 on Friday. The firm’s 50-day moving average price is $46.95 and its 200-day moving average price is $47.74. ACI Worldwide, Inc. has a 52-week low of $40.45 and a 52-week high of $58.14. The company has a market cap of $4.43 billion, a PE ratio of 17.33 and a beta of 1.05. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.56.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. ACI Worldwide had a net margin of 15.07% and a return on equity of 18.97%. The firm had revenue of $482.36 million during the quarter, compared to analysts’ expectations of $465.09 million. During the same period in the previous year, the company earned $0.77 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, analysts anticipate that ACI Worldwide, Inc. will post 2 EPS for the current year.

Insider Buying and Selling at ACI Worldwide

In other news, CTO Abraham Kuruvilla sold 4,210 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $47.69, for a total value of $200,774.90. Following the transaction, the chief technology officer directly owned 96,897 shares in the company, valued at $4,621,017.93. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.

ACI Worldwide Company 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.