ACI Worldwide, Inc. $ACIW Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 2.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 597,765 shares of the technology company’s stock after buying an additional 16,522 shares during the quarter. Principal Financial Group Inc.’s holdings in ACI Worldwide were worth $24,514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Millennium Management LLC increased its position in ACI Worldwide by 160.4% during the first quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock worth $8,634,000 after purchasing an additional 97,206 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of ACI Worldwide by 93.4% during the 1st quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock valued at $81,000 after buying an additional 711 shares during the period. Caxton Associates LLP acquired a new stake in shares of ACI Worldwide during the 1st quarter worth $259,000. Empowered Funds LLC raised its position in shares of ACI Worldwide by 64.2% in the 1st quarter. Empowered Funds LLC now owns 16,362 shares of the technology company’s stock worth $895,000 after buying an additional 6,399 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ACI Worldwide by 13.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 407,332 shares of the technology company’s stock valued at $22,285,000 after acquiring an additional 48,988 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Stock Down 2.1%

Shares of ACI Worldwide stock opened at $56.87 on Tuesday. ACI Worldwide, Inc. has a 1-year low of $38.05 and a 1-year high of $60.17. The company has a market capitalization of $5.78 billion, a PE ratio of 28.58 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.53 and a quick ratio of 1.53. The business has a 50-day moving average of $47.30 and a 200-day moving average of $44.09.

ACI Worldwide (NASDAQ:ACIW) last posted its earnings results on Thursday, May 7th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.16. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The company had revenue of $425.75 million for the quarter, compared to analysts’ expectations of $410.08 million. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast that ACI Worldwide, Inc. will post 2.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on ACIW. DA Davidson boosted their price target on ACI Worldwide from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Wall Street Zen lowered ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Zacks Research upgraded ACI Worldwide from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, ACI Worldwide has a consensus rating of “Hold” and a consensus price target of $64.00.

ACI Worldwide Company Profile

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.