ACI Worldwide, Inc. $ACIW Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Reduces Stake

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 72.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,800 shares of the technology company’s stock after selling 18,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in ACI Worldwide were worth $332,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ACIW. BlackRock Inc. acquired a new stake in shares of ACI Worldwide in the second quarter valued at about $823,821,000. Reinhart Partners LLC. lifted its position in shares of ACI Worldwide by 8.5% during the 2nd quarter. Reinhart Partners LLC. now owns 2,424,247 shares of the technology company’s stock worth $121,916,000 after purchasing an additional 189,433 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ACI Worldwide by 13.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,813,150 shares of the technology company’s stock worth $115,364,000 after purchasing an additional 344,358 shares during the last quarter. North Reef Capital Management LP lifted its position in shares of ACI Worldwide by 13.2% during the 1st quarter. North Reef Capital Management LP now owns 2,230,000 shares of the technology company’s stock worth $91,452,000 after purchasing an additional 260,000 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in ACI Worldwide by 9.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,737,223 shares of the technology company’s stock valued at $84,915,000 after purchasing an additional 144,917 shares during the period. 94.73% of the stock is currently owned by institutional investors.

ACI Worldwide Trading Up 0.8%

Shares of ACIW opened at $60.02 on Friday. ACI Worldwide, Inc. has a 1 year low of $38.05 and a 1 year high of $63.10. The company has a current ratio of 1.56, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $52.68 and a 200-day simple moving average of $47.61. The stock has a market cap of $6.06 billion, a PE ratio of 37.05 and a beta of 1.00.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.37 by $0.17. ACI Worldwide had a return on equity of 13.65% and a net margin of 9.46%. The business had revenue of $426.81 million for the quarter, compared to analyst estimates of $421.91 million. During the same quarter in the previous year, the firm earned $1.09 EPS. ACI Worldwide’s quarterly revenue was down 11.5% on a year-over-year basis. On average, sell-side analysts predict that ACI Worldwide, Inc. will post 2.81 EPS for the current fiscal year.

More ACI Worldwide News

Here are the key news stories impacting ACI Worldwide this week:

• Positive Sentiment: ACI reported Q3 revenue of about $426.8 million, ahead of estimates of roughly $421.9 million, and raised its full-year adjusted EBITDA outlook. ACI Worldwide reports lower Q3 revenue but raises full-year adjusted EBITDA outlook
• Neutral Sentiment: Needham reiterated its Hold rating, signaling no change in its view of the shares. Needham Reiterates Hold Rating on ACI Worldwide
• Neutral Sentiment: The company also announced a strategic acquisition, but the provided coverage does not detail its expected financial impact. ACI Worldwide Reports Third-Quarter Results and Strategic Acquisition
• Negative Sentiment: Revenue fell about 12% year over year, and EPS was $0.54 versus $1.09 a year earlier. Earnings-estimate comparisons are mixed across reports: one cites a beat against $0.37 consensus, while Zacks says results missed its $0.67 estimate. ACI Worldwide Q3 Earnings Lag Estimates

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ACIW shares. Wall Street Zen lowered ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Stephens initiated coverage on ACI Worldwide in a research report on Friday, October 16th. They issued an “equal weight” rating and a $56.00 price target on the stock. Zacks Research upgraded ACI Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. DA Davidson reiterated a “buy” rating and set a $66.00 price target on shares of ACI Worldwide in a report on Wednesday, September 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of ACI Worldwide in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.00.

ACI Worldwide Profile

ACI Worldwide, Inc (NASDAQ: ACIW) develops and provides electronic payment software and services for merchants, banks, financial institutions, billers and other organizations. Its technology is designed to support payment acceptance, transaction processing, fraud prevention and the movement of money across digital and traditional channels.

The company’s offerings include payment orchestration and acquiring solutions, real-time payments, bill payment and electronic bill presentment, fraud management, and software for retail and enterprise payment operations.