ACI Worldwide (NASDAQ:ACIW) Hits New 52-Week High at $37.02

Shares of ACI Worldwide, Inc. (NASDAQ:ACIW) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $37.02 and last traded at $36.91, with a volume of 11600 shares. The stock had previously closed at $36.56.

Analysts Set New Price Targets

A number of brokerages have commented on ACIW. Needham & Company LLC reissued a “hold” rating on shares of ACI Worldwide in a report on Wednesday, May 1st. Craig Hallum raised their price objective on ACI Worldwide from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Jefferies Financial Group initiated coverage on shares of ACI Worldwide in a report on Friday, March 8th. They set a “buy” rating and a $38.00 target price for the company. DA Davidson raised their price target on shares of ACI Worldwide from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of ACI Worldwide in a research note on Friday, March 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $40.00.

ACI Worldwide Stock Up 2.4 %

The firm’s fifty day simple moving average is $33.03 and its two-hundred day simple moving average is $30.26. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 27.28 and a beta of 1.20.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. ACI Worldwide had a return on equity of 17.31% and a net margin of 9.88%. The firm had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $476.43 million. During the same period in the prior year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that ACI Worldwide, Inc. will post 1.9 EPS for the current year.

Hedge Funds Weigh In On ACI Worldwide

Several large investors have recently made changes to their positions in the stock. Hood River Capital Management LLC raised its position in ACI Worldwide by 9.7% in the first quarter. Hood River Capital Management LLC now owns 1,656,745 shares of the technology company’s stock valued at $55,021,000 after purchasing an additional 147,049 shares during the period. LRI Investments LLC purchased a new stake in shares of ACI Worldwide in the 1st quarter valued at $227,000. EntryPoint Capital LLC lifted its stake in ACI Worldwide by 7.3% during the 1st quarter. EntryPoint Capital LLC now owns 7,043 shares of the technology company’s stock worth $234,000 after acquiring an additional 478 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in ACI Worldwide by 26.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 109,169 shares of the technology company’s stock valued at $3,623,000 after acquiring an additional 22,992 shares in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in ACI Worldwide during the first quarter worth about $765,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Company Profile

ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments in the United States and internationally. The company operates in three segments: Banks, Merchants, and Billers. The company offers ACI Acquiring, a solution to process credit, debit, and prepaid card transactions, deliver digital innovation, and fraud prevention; ACI Issuing, a digital payment issuing solution for new payment offering; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.