Martingale Asset Management L P grew its position in ACI Worldwide Inc (NASDAQ:ACIW) by 48.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 267,475 shares of the technology company’s stock after purchasing an additional 86,819 shares during the period. Martingale Asset Management L P’s holdings in ACI Worldwide were worth $8,792,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of ACI Worldwide by 4.6% in the fourth quarter. BlackRock Inc. now owns 13,835,712 shares of the technology company’s stock valued at $382,833,000 after purchasing an additional 609,269 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of ACI Worldwide by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,101,413 shares of the technology company’s stock valued at $85,815,000 after purchasing an additional 73,304 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of ACI Worldwide by 0.8% in the first quarter. Conestoga Capital Advisors LLC now owns 2,632,106 shares of the technology company’s stock valued at $86,517,000 after purchasing an additional 21,601 shares during the period. Norges Bank acquired a new position in shares of ACI Worldwide in the fourth quarter valued at about $50,583,000. Finally, Parnassus Investments CA increased its holdings in shares of ACI Worldwide by 135.1% in the fourth quarter. Parnassus Investments CA now owns 1,529,433 shares of the technology company’s stock valued at $42,319,000 after purchasing an additional 878,983 shares during the period.
ACIW has been the topic of several analyst reports. Zacks Investment Research raised ACI Worldwide from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, February 5th. BidaskClub lowered ACI Worldwide from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. TheStreet lowered ACI Worldwide from an “a-” rating to a “c+” rating in a report on Thursday, May 9th. Finally, Stephens raised ACI Worldwide from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $38.00 in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $34.00.
ACI Worldwide (NASDAQ:ACIW) last posted its earnings results on Thursday, May 9th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.07). The company had revenue of $205.90 million for the quarter, compared to analyst estimates of $213.05 million. ACI Worldwide had a return on equity of 8.39% and a net margin of 6.20%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the business earned ($0.17) earnings per share. Research analysts anticipate that ACI Worldwide Inc will post 0.65 earnings per share for the current fiscal year.
In other ACI Worldwide news, CEO Philip G. Heasley sold 166,572 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $32.28, for a total transaction of $5,376,944.16. Following the transaction, the chief executive officer now owns 1,441,533 shares in the company, valued at $46,532,685.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.49% of the company’s stock.
ACI Worldwide Profile
ACI Worldwide, Inc provides software products and services for facilitating electronic payments to banks, financial 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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