Conestoga Capital Advisors LLC Boosts Position in ACI Worldwide Inc. (ACIW)
Conestoga Capital Advisors LLC raised its stake in shares of ACI Worldwide Inc. (NASDAQ:ACIW) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,562,533 shares of the company’s stock after buying an additional 90,505 shares during the period. ACI Worldwide makes up approximately 2.1% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Conestoga Capital Advisors LLC owned 1.33% of ACI Worldwide worth $30,282,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Strs Ohio raised its stake in ACI Worldwide by 6.8% in the second quarter. Strs Ohio now owns 12,500 shares of the company’s stock valued at $243,000 after buying an additional 800 shares in the last quarter. Princeton Capital Management Inc. purchased a new stake in shares of ACI Worldwide during the second quarter worth about $521,000. Bank of Montreal Can purchased a new stake in shares of ACI Worldwide during the second quarter worth about $5,106,000. LS Investment Advisors LLC raised its stake in shares of ACI Worldwide by 68.7% in the second quarter. LS Investment Advisors LLC now owns 6,999 shares of the company’s stock worth $137,000 after buying an additional 2,849 shares during the period. Finally, Eagle Boston Investment Management Inc. raised its stake in shares of ACI Worldwide by 2.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 306,197 shares of the company’s stock worth $5,973,000 after buying an additional 7,971 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.
Shares of ACI Worldwide Inc. (NASDAQ:ACIW) traded up 0.11% during trading on Monday, hitting $18.77. 430,440 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $18.78 and its 200 day moving average is $19.30. ACI Worldwide Inc. has a 1-year low of $15.07 and a 1-year high of $23.69. The firm has a market capitalization of $2.20 billion, a PE ratio of 20.88 and a beta of 1.49.
ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.20. ACI Worldwide had a return on equity of 4.27% and a net margin of 10.97%. The firm had revenue of $217 million for the quarter, compared to analyst estimates of $246.61 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities research analysts forecast that ACI Worldwide Inc. will post $0.43 earnings per share for the current year.
A number of analysts recently issued reports on ACIW shares. Monness Crespi & Hardt decreased their target price on shares of ACI Worldwide from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, November 4th. Zacks Investment Research upgraded shares of ACI Worldwide from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Monday, August 1st. TheStreet lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Stephens upgraded shares of ACI Worldwide from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.25.
In other ACI Worldwide news, CFO Scott W. Behrens sold 35,555 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $19.22, for a total transaction of $683,367.10. Following the transaction, the chief financial officer now directly owns 271,554 shares in the company, valued at $5,219,267.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.
About ACI Worldwide
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. These 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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