ACI Worldwide’s (ACIW) “Buy” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of ACI Worldwide (NASDAQ:ACIW) in a report issued on Monday morning,Benzinga reports. They currently have a $60.00 price objective on the technology company’s stock.

Several other research firms also recently issued reports on ACIW. Zacks Research downgraded ACI Worldwide from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.00.

ACI Worldwide Trading Down 3.2%

NASDAQ:ACIW opened at $40.81 on Monday. The company has a market capitalization of $4.15 billion, a PE ratio of 20.51 and a beta of 1.01. 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 has a 52-week low of $38.05 and a 52-week high of $54.28. The stock has a fifty day simple moving average of $41.88 and a 200-day simple moving average of $44.11.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.16. The business had revenue of $425.75 million during the quarter, compared to the consensus estimate 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 was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. On average, equities research analysts expect that ACI Worldwide will post 2.53 earnings per share for the current fiscal year.

Insider Transactions at ACI Worldwide

In related news, Director Juan Benitez II acquired 2,400 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average price 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 $707,313.90. This trade represents a 16.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Adalio T. Sanchez purchased 3,000 shares of the stock in a transaction on Monday, March 2nd. The stock was acquired at an average price of $40.98 per share, with a total value of $122,940.00. Following the acquisition, the director directly owned 64,378 shares in the company, valued at $2,638,210.44. This trade represents a 4.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Institutional Trading of ACI Worldwide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACIW. Farther Finance Advisors LLC grew its holdings in ACI Worldwide by 226.8% in the 4th quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company’s stock valued at $26,000 after buying an additional 372 shares during the period. Allworth Financial LP grew its holdings in ACI Worldwide by 93.5% in the 3rd quarter. Allworth Financial LP now owns 532 shares of the technology company’s stock valued at $28,000 after buying an additional 257 shares during the period. Bessemer Group Inc. grew its holdings in ACI Worldwide by 51.9% in the 3rd quarter. Bessemer Group Inc. now owns 626 shares of the technology company’s stock valued at $32,000 after buying an additional 214 shares during the period. Eagle Bay Advisors LLC purchased a new stake in ACI Worldwide in the 4th quarter valued at about $37,000. Finally, State of Wyoming purchased a new stake in ACI Worldwide in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.