Ritholtz Wealth Management Decreases Holdings in ACI Worldwide, Inc. $ACIW

Ritholtz Wealth Management lowered its position in ACI Worldwide, Inc. (NASDAQ:ACIW) by 82.9% during the first quarter, HoldingsChannel.com reports. The fund owned 5,981 shares of the technology company’s stock after selling 28,978 shares during the quarter. Ritholtz Wealth Management’s holdings in ACI Worldwide were worth $245,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in ACI Worldwide by 39.0% in the third quarter. JPMorgan Chase & Co. now owns 249,533 shares of the technology company’s stock valued at $13,168,000 after purchasing an additional 69,964 shares during the last quarter. Jefferson Bridge Capital LLC purchased a new position in shares of ACI Worldwide in the fourth quarter valued at $1,176,000. Assenagon Asset Management S.A. raised its stake in shares of ACI Worldwide by 159.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 781,468 shares of the technology company’s stock worth $37,362,000 after buying an additional 480,711 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of ACI Worldwide by 4.0% during the 4th quarter. Congress Asset Management Co. now owns 1,391,125 shares of the technology company’s stock worth $66,510,000 after buying an additional 52,946 shares during the last quarter. Finally, London Co. of Virginia raised its stake in shares of ACI Worldwide by 91.0% during the 3rd quarter. London Co. of Virginia now owns 1,732,941 shares of the technology company’s stock worth $91,448,000 after buying an additional 825,671 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACIW has been the topic of a number of research reports. DA Davidson reissued a “buy” rating and issued a $60.00 price objective on shares of ACI Worldwide in a research note on Monday, May 11th. Zacks Research upgraded shares of ACI Worldwide from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Wall Street Zen downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.00.

ACI Worldwide Stock Performance

NASDAQ ACIW opened at $54.88 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.51. ACI Worldwide, Inc. has a fifty-two week low of $38.05 and a fifty-two week high of $54.95. The business has a fifty day moving average of $44.27 and a 200-day moving average of $43.42. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 27.58 and a beta of 0.98.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.16. The business had revenue of $425.75 million for the quarter, compared to analyst estimates of $410.08 million. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. As a group, analysts predict that ACI Worldwide, Inc. will post 2.59 earnings per share 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.