Victory Capital Management Inc. Cuts Stake in ACI Worldwide, Inc. $ACIW

Victory Capital Management Inc. lowered its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 19.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 555,076 shares of the technology company’s stock after selling 130,439 shares during the period. Victory Capital Management Inc.’s holdings in ACI Worldwide were worth $29,291,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ACIW. Envestnet Asset Management Inc. increased its holdings in shares of ACI Worldwide by 166.7% in the third quarter. Envestnet Asset Management Inc. now owns 378,990 shares of the technology company’s stock worth $19,999,000 after buying an additional 236,878 shares during the period. AlphaQuest LLC bought a new position in ACI Worldwide during the 3rd quarter worth approximately $1,427,000. Congress Asset Management Co. increased its stake in ACI Worldwide by 13.1% in the 3rd 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. JPMorgan Chase & Co. lifted its position in ACI Worldwide by 39.0% in the third quarter. JPMorgan Chase & Co. now owns 249,533 shares of the technology company’s stock valued at $13,168,000 after purchasing an additional 69,964 shares during the last quarter. Finally, Weitz Investment Management Inc. lifted its position in ACI Worldwide by 19.9% in the third quarter. Weitz Investment Management Inc. now owns 366,800 shares of the technology company’s stock valued at $19,356,000 after purchasing an additional 60,800 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

ACI Worldwide Stock Down 0.7%

NASDAQ ACIW opened at $42.55 on Monday. ACI Worldwide, Inc. has a 1 year low of $38.05 and a 1 year high of $57.49. The stock has a market capitalization of $4.33 billion, a PE ratio of 19.61 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 1.54. The business’s 50-day moving average is $43.00 and its 200 day moving average is $46.96.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, February 26th. The technology company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). ACI Worldwide had a net margin of 12.88% and a return on equity of 16.44%. The business had revenue of $481.60 million for the quarter, compared to the consensus estimate of $465.20 million. During the same period in the previous year, the company earned $1.08 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts forecast that ACI Worldwide, Inc. will post 2 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Adalio T. Sanchez acquired 3,000 shares of ACI Worldwide stock in a transaction on Monday, March 2nd. The shares were acquired at an average cost of $40.98 per share, with a total value of $122,940.00. Following the transaction, the director owned 64,378 shares in the company, valued at $2,638,210.44. This trade represents a 4.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Juan Benitez II bought 2,400 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average cost of $41.90 per share, with a total value of $100,560.00. Following the completion of the transaction, the director owned 16,881 shares in the company, valued at approximately $707,313.90. This trade represents a 16.57% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of ACI Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ACI Worldwide has an average rating of “Moderate Buy” and an average target price of $60.00.

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.