Maryland State Retirement & Pension System Has $783,000 Stock Position in ACI Worldwide, Inc. $ACIW

Maryland State Retirement & Pension System cut its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 51.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,835 shares of the technology company’s stock after selling 15,993 shares during the period. Maryland State Retirement & Pension System’s holdings in ACI Worldwide were worth $783,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of ACI Worldwide by 13.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,096 shares of the technology company’s stock worth $96,000 after buying an additional 249 shares during the period. Profund Advisors LLC boosted its stake in ACI Worldwide by 5.9% during the 2nd quarter. Profund Advisors LLC now owns 5,233 shares of the technology company’s stock worth $240,000 after acquiring an additional 293 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in ACI Worldwide by 68.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 733 shares of the technology company’s stock worth $34,000 after acquiring an additional 298 shares during the last quarter. Bank of Montreal Can grew its holdings in ACI Worldwide by 1.7% during the second quarter. Bank of Montreal Can now owns 18,949 shares of the technology company’s stock valued at $870,000 after purchasing an additional 317 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in ACI Worldwide by 106.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 627 shares of the technology company’s stock valued at $29,000 after purchasing an additional 323 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Buying and Selling

In other ACI Worldwide news, CTO Abraham Kuruvilla sold 4,210 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $47.69, for a total transaction of $200,774.90. Following the completion of the transaction, the chief technology officer owned 96,897 shares of the company’s stock, valued at $4,621,017.93. This represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ACIW shares. Weiss Ratings reissued a “hold (c+)” rating on shares of ACI Worldwide in a research report on Monday, December 29th. DA Davidson reissued a “buy” rating and issued a $60.00 target price on shares of ACI Worldwide in a research note on Thursday, October 16th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

ACI Worldwide Trading Up 1.2%

Shares of NASDAQ:ACIW opened at $42.90 on Thursday. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 17.30 and a beta of 1.05. ACI Worldwide, Inc. has a 12 month low of $40.45 and a 12 month high of $58.14. The company’s fifty day simple moving average is $46.66 and its 200 day simple moving average is $47.68. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.56.

ACI Worldwide (NASDAQ:ACIW) last released its earnings results on Thursday, November 6th. The technology company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $482.36 million during the quarter, compared to analysts’ expectations of $465.09 million. ACI Worldwide had a return on equity of 18.97% and a net margin of 15.07%.The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, research analysts forecast that ACI Worldwide, Inc. will post 2 EPS for the current fiscal year.

About ACI Worldwide

ACI Worldwide (NASDAQ:ACIW) is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company’s platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI’s modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.