ACI Worldwide (NASDAQ:ACIW) Raised to Strong-Buy at Zacks Research

ACI Worldwide (NASDAQ:ACIW) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Weiss Ratings upgraded ACI Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Wall Street Zen lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, DA Davidson set a $66.00 target price on shares of ACI Worldwide and gave the company a “buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, ACI Worldwide has an average rating of “Buy” and an average price target of $66.00.

ACI Worldwide Stock Up 0.6%

ACI Worldwide stock opened at $51.86 on Thursday. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 23.79 and a beta of 0.97. ACI Worldwide has a 52 week low of $38.05 and a 52 week high of $61.08. The business’s 50-day moving average price is $53.18 and its 200 day moving average price is $45.80. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.52.

Hedge Funds Weigh In On ACI Worldwide

Large investors have recently bought and sold shares of the business. Millennium Management LLC boosted its position in ACI Worldwide by 160.4% during the first quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock worth $8,634,000 after purchasing an additional 97,206 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of ACI Worldwide by 93.4% in the first quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock valued at $81,000 after buying an additional 711 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of ACI Worldwide in the first quarter valued at approximately $259,000. Empowered Funds LLC raised its stake in shares of ACI Worldwide by 64.2% during the 1st quarter. Empowered Funds LLC now owns 16,362 shares of the technology company’s stock worth $895,000 after buying an additional 6,399 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ACI Worldwide by 13.7% during the 1st 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 buying an additional 48,988 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.