Palisade Capital Management LP Invests $16.79 Million in ACI Worldwide, Inc. $ACIW

Palisade Capital Management LP purchased a new stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 333,856 shares of the technology company’s stock, valued at approximately $16,790,000. Palisade Capital Management LP owned about 0.33% of ACI Worldwide at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Millennium Management LLC boosted its position in ACI Worldwide by 160.4% in the 1st quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock valued at $8,634,000 after buying an additional 97,206 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of ACI Worldwide by 93.4% during the first quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock worth $81,000 after acquiring an additional 711 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of ACI Worldwide during the first quarter valued at $259,000. Empowered Funds LLC lifted its stake in shares of ACI Worldwide by 64.2% during the first quarter. Empowered Funds LLC now owns 16,362 shares of the technology company’s stock valued at $895,000 after acquiring an additional 6,399 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ACI Worldwide by 13.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 407,332 shares of the technology company’s stock valued at $22,285,000 after acquiring an additional 48,988 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ACIW shares. DA Davidson set a $66.00 price objective on ACI Worldwide and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Wall Street Zen lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of ACI Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $66.00.

ACI Worldwide Stock Down 0.0%

Shares of ACI Worldwide stock opened at $52.40 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.52. ACI Worldwide, Inc. has a 12 month low of $38.05 and a 12 month high of $61.08. The business has a fifty day simple moving average of $53.47 and a 200 day simple moving average of $45.98. The stock has a market cap of $5.29 billion, a PE ratio of 24.04 and a beta of 0.97.

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.