ACI Worldwide (NASDAQ:ACIW) Reaches New 12-Month High at $33.56

ACI Worldwide, Inc. (NASDAQ:ACIW) reached a new 52-week high on Monday . The stock traded as high as $33.56 and last traded at $33.36, with a volume of 16466 shares trading hands. The stock had previously closed at $33.21.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ACIW shares. TheStreet upgraded ACI Worldwide from a “c” rating to a “b-” rating in a research report on Thursday, January 4th. Canaccord Genuity Group restated a “buy” rating and set a $40.00 price target on shares of ACI Worldwide in a research report on Friday, March 15th. Jefferies Financial Group started coverage on ACI Worldwide in a research note on Friday, March 8th. They set a “buy” rating and a $38.00 price objective for the company. Finally, DA Davidson reiterated a “buy” rating and set a $39.00 price objective on shares of ACI Worldwide in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, ACI Worldwide currently has an average rating of “Moderate Buy” and an average target price of $39.00.

ACI Worldwide Stock Down 1.3 %

The firm has a market cap of $3.49 billion, a P/E ratio of 29.92 and a beta of 1.24. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $31.18 and a 200-day simple moving average of $27.59.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. ACI Worldwide had a return on equity of 16.30% and a net margin of 8.37%. The company had revenue of $477.00 million during the quarter, compared to analyst estimates of $476.43 million. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that ACI Worldwide, Inc. will post 1.91 earnings per share for the current year.

Hedge Funds Weigh In On ACI Worldwide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACIW. Fred Alger Management LLC raised its position in ACI Worldwide by 456.9% during the first quarter. Fred Alger Management LLC now owns 2,094,892 shares of the technology company’s stock valued at $56,520,000 after purchasing an additional 1,718,703 shares during the period. Vanguard Group Inc. grew its position in shares of ACI Worldwide by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 13,204,817 shares of the technology company’s stock worth $404,067,000 after buying an additional 1,228,384 shares during the last quarter. Norges Bank purchased a new stake in ACI Worldwide during the 4th quarter worth approximately $37,509,000. Morgan Stanley raised its position in ACI Worldwide by 85.5% during the fourth quarter. Morgan Stanley now owns 2,246,479 shares of the technology company’s stock worth $51,669,000 after acquiring an additional 1,035,332 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its position in ACI Worldwide by 9,610.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 907,098 shares of the technology company’s stock worth $27,757,000 after acquiring an additional 897,757 shares during the period. 94.74% of the stock is owned by 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.