ACI Worldwide (NASDAQ:ACIW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $28.00 target price on the technology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 18.39% from the stock’s current price.
According to Zacks, “ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,000 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries as well as 300 of the leading global retailers rely on ACI to execute $14 trillion each day in payments. In addition, thousands of organizations utilize our electronic bill presentment and payment services. Through their comprehensive suite of software and SaaS-based solutions, they deliver real-time, any-to-any payments capabilities and enable the industry’s most complete omni-channel payments experience. “
Separately, BidaskClub upgraded ACI Worldwide from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.33.
ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.21. The firm had revenue of $326.40 million for the quarter, compared to the consensus estimate of $322.12 million. ACI Worldwide had a return on equity of 12.04% and a net margin of 0.50%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 EPS. equities analysts expect that ACI Worldwide will post 0.63 earnings per share for the current year.
In other news, EVP Anthony M. Scotto, Jr. sold 30,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $22.97, for a total value of $689,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Mcgroddy sold 90,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $22.40, for a total value of $2,016,000.00. Following the completion of the transaction, the director now owns 76,896 shares in the company, valued at approximately $1,722,470.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,781 shares of company stock worth $5,911,258. Corporate insiders own 4.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank increased its holdings in shares of ACI Worldwide by 16.2% in the 3rd quarter. Comerica Bank now owns 140,247 shares of the technology company’s stock valued at $3,369,000 after purchasing an additional 19,551 shares during the period. OxFORD Asset Management LLP increased its holdings in shares of ACI Worldwide by 542.3% in the 3rd quarter. OxFORD Asset Management LLP now owns 87,815 shares of the technology company’s stock valued at $2,014,000 after purchasing an additional 74,142 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of ACI Worldwide by 9.3% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 945,341 shares of the technology company’s stock valued at $21,535,000 after purchasing an additional 80,638 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of ACI Worldwide by 9.1% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,874,780 shares of the technology company’s stock valued at $42,707,000 after purchasing an additional 156,959 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in shares of ACI Worldwide by 3.6% in the 3rd quarter. D.A. Davidson & CO. now owns 167,050 shares of the technology company’s stock valued at $3,805,000 after purchasing an additional 5,850 shares during the period.
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ACI Worldwide Company Profile
ACI Worldwide, Inc develops, markets, installs and supports a line of software products and services primarily focused on facilitating electronic payments. The Company also distributes or acts as a sales agent for software developed by third parties. Its products and services are used principally by financial institutions, retailers, billers and electronic payment processors, both in domestic and international markets.
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