Royal Bank of Canada Lowers Stake in ACI Worldwide, Inc. $ACIW

Royal Bank of Canada reduced its position in ACI Worldwide, Inc. (NASDAQ:ACIW) by 71.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,760 shares of the technology company’s stock after selling 37,434 shares during the quarter. Royal Bank of Canada’s holdings in ACI Worldwide were worth $604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ACIW. WCM Investment Management LLC increased its stake in ACI Worldwide by 16.8% in the 1st quarter. WCM Investment Management LLC now owns 516,342 shares of the technology company’s stock worth $20,814,000 after buying an additional 74,085 shares in the last quarter. Quantinno Capital Management LP raised its holdings in ACI Worldwide by 379.9% during the first quarter. Quantinno Capital Management LP now owns 82,590 shares of the technology company’s stock valued at $3,387,000 after acquiring an additional 65,380 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of ACI Worldwide by 27.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 166,400 shares of the technology company’s stock valued at $7,956,000 after acquiring an additional 35,700 shares in the last quarter. London Co. of Virginia lifted its position in shares of ACI Worldwide by 19.9% in the first quarter. London Co. of Virginia now owns 1,680,581 shares of the technology company’s stock valued at $68,921,000 after acquiring an additional 278,744 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in shares of ACI Worldwide by 2.2% in the first quarter. Rice Hall James & Associates LLC now owns 1,003,356 shares of the technology company’s stock worth $41,148,000 after acquiring an additional 22,042 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ACIW shares. Wall Street Zen cut ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised ACI Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 17th. DA Davidson set a $66.00 price target on ACI Worldwide and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Zacks Research raised shares of ACI Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, ACI Worldwide presently has an average rating of “Buy” and a consensus price target of $66.00.

ACI Worldwide Trading Up 1.1%

Shares of ACIW stock opened at $52.41 on Tuesday. ACI Worldwide, Inc. has a 12-month low of $38.05 and a 12-month high of $61.08. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average price is $53.34 and its 200-day moving average price is $45.90. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 24.04 and a beta of 0.97.

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.