ACI Worldwide, Inc. (ACIW) Earns Buy Rating from Analysts at DA Davidson
DA Davidson initiated coverage on shares of ACI Worldwide, Inc. (NASDAQ:ACIW) in a report issued on Thursday, MarketBeat reports. The firm issued a buy rating and a $26.00 price objective on the technology company’s stock.
A number of other research firms have also recently weighed in on ACIW. BidaskClub raised shares of ACI Worldwide from a hold rating to a buy rating in a report on Tuesday, June 27th. Zacks Investment Research cut shares of ACI Worldwide from a strong-buy rating to a hold rating in a report on Wednesday, May 31st. ValuEngine raised shares of ACI Worldwide from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, TheStreet cut shares of ACI Worldwide from a b rating to a c+ rating in a report on Friday, May 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $25.50.
Shares of ACI Worldwide (NASDAQ ACIW) traded down 0.13% on Thursday, reaching $22.73. 331,756 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $22.57 and a 200 day moving average of $22.18. ACI Worldwide has a one year low of $15.11 and a one year high of $24.65. The firm has a market capitalization of $2.69 billion, a P/E ratio of 105.23 and a beta of 1.33.
ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.11. ACI Worldwide had a net margin of 2.47% and a return on equity of 8.92%. The company had revenue of $240.60 million for the quarter, compared to analysts’ expectations of $225.87 million. During the same quarter last year, the company earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that ACI Worldwide will post $0.52 EPS for the current year.
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In other ACI Worldwide news, CEO Philip G. Heasley bought 5,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average cost of $21.32 per share, with a total value of $106,600.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John M. Shay, Jr. sold 20,000 shares of ACI Worldwide stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $23.19, for a total transaction of $463,800.00. Following the completion of the transaction, the director now directly owns 81,896 shares in the company, valued at $1,899,168.24. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC increased its holdings in shares of ACI Worldwide by 4.4% in the 4th quarter. Teachers Advisors LLC now owns 194,364 shares of the technology company’s stock valued at $3,528,000 after acquiring an additional 8,128 shares during the period. Capstone Asset Management Co. acquired a new position in shares of ACI Worldwide in the 1st quarter valued at $220,000. Louisiana State Employees Retirement System increased its holdings in shares of ACI Worldwide by 2.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 29,600 shares of the technology company’s stock valued at $633,000 after acquiring an additional 600 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of ACI Worldwide by 30.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 82,140 shares of the technology company’s stock valued at $1,757,000 after acquiring an additional 19,340 shares during the period. Finally, Strs Ohio increased its holdings in shares of ACI Worldwide by 113.2% in the 1st quarter. Strs Ohio now owns 8,100 shares of the technology company’s stock valued at $173,000 after acquiring an additional 4,300 shares during the period.
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. 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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