Synovus Financial Corp Takes Position in ACI Worldwide, Inc. $ACIW

Synovus Financial Corp purchased a new position in ACI Worldwide, Inc. (NASDAQ:ACIW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,280 shares of the technology company’s stock, valued at approximately $1,123,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in shares of ACI Worldwide by 160.4% in the 1st quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock valued at $8,634,000 after buying an additional 97,206 shares in the last quarter. NewEdge Advisors LLC lifted its position in ACI Worldwide by 93.4% during the first quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock valued at $81,000 after acquiring an additional 711 shares during the last quarter. Caxton Associates LLP acquired a new stake in ACI Worldwide in the first quarter valued at approximately $259,000. Empowered Funds LLC grew its holdings in ACI Worldwide by 64.2% in the first quarter. Empowered Funds LLC now owns 16,362 shares of the technology company’s stock worth $895,000 after purchasing an additional 6,399 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of ACI Worldwide by 13.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 407,332 shares of the technology company’s stock worth $22,285,000 after purchasing an additional 48,988 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

ACI Worldwide Trading Up 0.3%

NASDAQ ACIW opened at $40.88 on Friday. ACI Worldwide, Inc. has a 1 year low of $38.53 and a 1 year high of $58.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market capitalization of $4.21 billion, a PE ratio of 16.48 and a beta of 1.05. The company has a fifty day moving average of $44.57 and a 200 day moving average of $47.30.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut ACI Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ACI Worldwide has an average rating of “Moderate Buy” and an average price target of $60.00.

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.