State of Michigan Retirement System Decreases Stock Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

State of Michigan Retirement System cut its holdings in ACI Worldwide, Inc. (NASDAQ:ACIWGet Rating) by 2.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,243 shares of the technology company’s stock after selling 600 shares during the quarter. State of Michigan Retirement System’s holdings in ACI Worldwide were worth $757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in ACI Worldwide in the second quarter valued at about $39,000. Assetmark Inc. raised its stake in shares of ACI Worldwide by 368.9% in the second quarter. Assetmark Inc. now owns 2,851 shares of the technology company’s stock worth $74,000 after purchasing an additional 2,243 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in shares of ACI Worldwide by 84.3% in the first quarter. Point72 Hong Kong Ltd now owns 4,605 shares of the technology company’s stock worth $145,000 after purchasing an additional 2,106 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of ACI Worldwide in the first quarter worth about $146,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of ACI Worldwide in the first quarter worth about $211,000. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

ACI Worldwide Stock Down 0.1 %

Shares of ACIW stock opened at $20.76 on Tuesday. The stock has a 50 day moving average of $21.88 and a 200 day moving average of $24.71. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.79. The stock has a market cap of $2.33 billion, a P/E ratio of 15.04 and a beta of 1.14. ACI Worldwide, Inc. has a twelve month low of $19.68 and a twelve month high of $36.01.

Analyst Ratings Changes

Several brokerages have recently issued reports on ACIW. DA Davidson reduced their price objective on ACI Worldwide to $32.00 in a research note on Thursday, October 13th. Needham & Company LLC cut ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. BTIG Research reduced their price objective on ACI Worldwide from $46.00 to $31.00 in a research note on Wednesday, November 2nd. StockNews.com began coverage on ACI Worldwide in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Craig Hallum reduced their price objective on ACI Worldwide from $38.00 to $30.00 in a research note on Thursday, November 3rd.

ACI Worldwide Company Profile

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ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments to banks, merchants, and billers worldwide. The company offers ACI Acquiring, a merchant management system to deliver digital innovation, improve fraud prevention, and reduce interchange fees; ACI Issuing, a digital payments issuing solution; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.

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Institutional Ownership by Quarter for ACI Worldwide (NASDAQ:ACIW)

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