ACI Worldwide (NASDAQ:ACIW) Price Target Raised to $64.00 at DA Davidson

ACI Worldwide (NASDAQ:ACIW) had its price target upped by investment analysts at DA Davidson from $60.00 to $64.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective points to a potential upside of 15.44% from the company’s previous close.

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

ACI Worldwide Price Performance

Shares of ACIW opened at $55.44 on Wednesday. ACI Worldwide has a 1-year low of $38.05 and a 1-year high of $57.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a 50-day simple moving average of $46.24 and a two-hundred day simple moving average of $43.84. The stock has a market cap of $5.64 billion, a PE ratio of 27.96 and a beta of 0.98.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.16. The company had revenue of $425.75 million for the quarter, compared to analysts’ expectations of $410.08 million. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, analysts forecast that ACI Worldwide will post 2.69 EPS for the current year.

Institutional Investors Weigh In On ACI Worldwide

Several institutional investors have recently modified their holdings of ACIW. Pacer Advisors Inc. lifted its stake in shares of ACI Worldwide by 8.2% in the 1st quarter. Pacer Advisors Inc. now owns 3,019 shares of the technology company’s stock worth $124,000 after acquiring an additional 230 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of ACI Worldwide by 13.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,096 shares of the technology company’s stock worth $96,000 after acquiring an additional 249 shares during the period. Allworth Financial LP raised its holdings in ACI Worldwide by 93.5% during the third quarter. Allworth Financial LP now owns 532 shares of the technology company’s stock worth $28,000 after purchasing an additional 257 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in ACI Worldwide by 6.0% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,615 shares of the technology company’s stock worth $221,000 after purchasing an additional 260 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in ACI Worldwide by 1.4% in the fourth quarter. ProShare Advisors LLC now owns 20,107 shares of the technology company’s stock valued at $961,000 after purchasing an additional 268 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.