State Treasurer State of Michigan Sells 1,500 Shares of ACI Worldwide Inc (ACIW)

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State Treasurer State of Michigan lowered its stake in shares of ACI Worldwide Inc (NASDAQ:ACIW) by 3.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 41,350 shares of the technology company’s stock after selling 1,500 shares during the quarter. State Treasurer State of Michigan’s holdings in ACI Worldwide were worth $1,144,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ACIW. First Hawaiian Bank boosted its position in ACI Worldwide by 137.3% in the fourth quarter. First Hawaiian Bank now owns 1,419 shares of the technology company’s stock worth $39,000 after purchasing an additional 821 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in ACI Worldwide in the fourth quarter worth $179,000. First Quadrant L P CA purchased a new position in ACI Worldwide in the fourth quarter worth $239,000. Dupont Capital Management Corp purchased a new position in ACI Worldwide in the fourth quarter worth $268,000. Finally, BB&T Corp boosted its position in ACI Worldwide by 9.9% in the fourth quarter. BB&T Corp now owns 10,476 shares of the technology company’s stock worth $290,000 after purchasing an additional 945 shares during the last quarter.

ACIW stock traded up $0.55 during midday trading on Monday, hitting $30.75. The company’s stock had a trading volume of 637,370 shares, compared to its average volume of 700,072. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.68. ACI Worldwide Inc has a 1 year low of $22.13 and a 1 year high of $30.76. The stock has a market cap of $3.50 billion, a P/E ratio of 30.15, a P/E/G ratio of 2.36 and a beta of 1.12.

ACIW has been the topic of several research analyst reports. Stephens cut ACI Worldwide from an “overweight” rating to an “equal” rating and cut their price objective for the stock from $33.00 to $30.00 in a research report on Thursday, January 3rd. BidaskClub raised ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 28th. Zacks Investment Research cut ACI Worldwide from a “hold” rating to a “sell” rating in a research report on Monday, November 5th. Finally, TheStreet raised ACI Worldwide from a “c+” rating to a “b-” rating in a research report on Thursday, December 6th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.00.

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About ACI Worldwide

ACI Worldwide, Inc provides software products and services for facilitating electronic payments to banks, intermediaries, merchants, and corporates worldwide. It offers UP Retail Payments solution that enables banks to accept, authorize, route, and secure payment transactions; and ACI Card and Merchant Management solutions, including credit, debit, smart card, and prepaid card issuance and management, as well as merchant account management and settlement.

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Institutional Ownership by Quarter for ACI Worldwide (NASDAQ:ACIW)

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