Moran Wealth Management LLC Buys New Shares in ACI Worldwide, Inc. $ACIW

Moran Wealth Management LLC acquired a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 51,428 shares of the technology company’s stock, valued at approximately $2,714,000.

A number of other hedge funds also recently made changes to their positions in the stock. Franklin Resources Inc. grew its stake in shares of ACI Worldwide by 3.8% during the 2nd quarter. Franklin Resources Inc. now owns 5,378,701 shares of the technology company’s stock valued at $246,936,000 after buying an additional 199,286 shares during the period. Alliancebernstein L.P. boosted its holdings in ACI Worldwide by 16.2% in the second quarter. Alliancebernstein L.P. now owns 2,228,131 shares of the technology company’s stock valued at $102,293,000 after acquiring an additional 310,785 shares during the last quarter. Ameriprise Financial Inc. grew its position in ACI Worldwide by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 1,677,338 shares of the technology company’s stock valued at $77,004,000 after acquiring an additional 105,975 shares during the period. American Century Companies Inc. increased its stake in ACI Worldwide by 32.8% during the second quarter. American Century Companies Inc. now owns 1,662,130 shares of the technology company’s stock worth $76,308,000 after acquiring an additional 410,423 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in ACI Worldwide by 13.1% during the third quarter. Congress Asset Management Co. now owns 1,338,179 shares of the technology company’s stock worth $70,616,000 after acquiring an additional 154,817 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

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

ACI Worldwide Stock Performance

NASDAQ:ACIW opened at $46.77 on Friday. 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 firm has a 50-day moving average of $47.31 and a two-hundred day moving average of $47.75. The stock has a market cap of $4.82 billion, a P/E ratio of 18.86 and a beta of 1.05. ACI Worldwide, Inc. has a 1-year low of $40.45 and a 1-year high of $58.14.

ACI Worldwide (NASDAQ:ACIW) last announced its earnings results on Thursday, November 6th. The technology company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. ACI Worldwide had a return on equity of 18.97% and a net margin of 15.07%.The business had revenue of $482.36 million for the quarter, compared to analyst estimates of $465.09 million. During the same period in the previous year, the company earned $0.77 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts expect that ACI Worldwide, Inc. will post 2 earnings per share for the current fiscal year.

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.