JPMorgan Chase & Co. Increases Stock Holdings in ACI Worldwide, Inc. $ACIW

JPMorgan Chase & Co. grew its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 39.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,533 shares of the technology company’s stock after purchasing an additional 69,964 shares during the period. JPMorgan Chase & Co.’s holdings in ACI Worldwide were worth $13,168,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ACIW. Envestnet Asset Management Inc. lifted its stake in shares of ACI Worldwide by 166.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 378,990 shares of the technology company’s stock worth $19,999,000 after acquiring an additional 236,878 shares during the period. AlphaQuest LLC acquired a new position in shares of ACI Worldwide during the third quarter worth about $1,427,000. Congress Asset Management Co. increased its stake in shares of ACI Worldwide by 13.1% during the third quarter. Congress Asset Management Co. now owns 1,338,179 shares of the technology company’s stock worth $70,616,000 after acquiring an additional 154,817 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in ACI Worldwide by 19.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,014,534 shares of the technology company’s stock worth $53,537,000 after purchasing an additional 162,427 shares in the last quarter. Finally, Weitz Investment Management Inc. lifted its position in ACI Worldwide by 19.9% in the third quarter. Weitz Investment Management Inc. now owns 366,800 shares of the technology company’s stock valued at $19,356,000 after purchasing an additional 60,800 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

ACI Worldwide Stock Performance

NASDAQ:ACIW opened at $39.88 on Friday. The firm’s fifty day simple moving average is $41.24 and its 200-day simple moving average is $46.07. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.51. The stock has a market cap of $4.06 billion, a PE ratio of 18.38 and a beta of 1.07. ACI Worldwide, Inc. has a fifty-two week low of $38.05 and a fifty-two week high of $57.49.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.15). The company had revenue of $481.60 million during the quarter, compared to analyst estimates of $465.20 million. ACI Worldwide had a net margin of 12.88% and a return on equity of 16.44%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $1.08 EPS. Analysts expect that ACI Worldwide, Inc. will post 2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ACIW shares. Zacks Research lowered ACI Worldwide from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 10th. Weiss Ratings downgraded ACI Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.00.

Insider Buying and Selling

In related news, Director Juan Benitez II purchased 2,400 shares of ACI Worldwide stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average cost of $41.90 per share, for a total transaction of $100,560.00. Following the transaction, the director owned 16,881 shares in the company, valued at approximately $707,313.90. The trade was a 16.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Adalio T. Sanchez purchased 3,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were purchased at an average cost of $40.98 per share, for a total transaction of $122,940.00. Following the purchase, the director directly owned 64,378 shares in the company, valued at approximately $2,638,210.44. This represents a 4.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

ACI Worldwide 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.