Raymond James & Associates Decreases Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Raymond James & Associates cut its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW – Get Rating) by 66.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 203,391 shares of the technology company’s stock after selling 407,316 shares during the period. Raymond James & Associates owned about 0.18% of ACI Worldwide worth $4,678,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ACIW. UBS Group AG increased its stake in shares of ACI Worldwide by 395.2% in the 4th quarter. UBS Group AG now owns 224,145 shares of the technology company’s stock worth $5,155,000 after purchasing an additional 178,886 shares in the last quarter. Clark Estates Inc. NY purchased a new stake in shares of ACI Worldwide in the 4th quarter worth $2,962,000. Swiss National Bank increased its stake in shares of ACI Worldwide by 1.2% in the 4th quarter. Swiss National Bank now owns 261,600 shares of the technology company’s stock worth $6,017,000 after purchasing an additional 3,000 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of ACI Worldwide by 10.8% in the 4th quarter. Russell Investments Group Ltd. now owns 290,592 shares of the technology company’s stock worth $6,684,000 after purchasing an additional 28,223 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of ACI Worldwide by 3.2% in the 4th quarter. Arizona State Retirement System now owns 30,572 shares of the technology company’s stock worth $703,000 after purchasing an additional 939 shares in the last quarter. 97.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ACIW. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price objective on shares of ACI Worldwide in a research note on Thursday, March 2nd. DA Davidson increased their price target on ACI Worldwide from $29.00 to $34.00 in a research note on Thursday, March 2nd. Stephens increased their price target on ACI Worldwide from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, March 2nd. StockNews.com started coverage on ACI Worldwide in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, TheStreet lowered ACI Worldwide from a “b-” rating to a “c” rating in a research note on Friday, May 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.67.

ACI Worldwide Stock Down 0.2 %

Shares of NASDAQ ACIW opened at $23.95 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market cap of $2.59 billion, a P/E ratio of 28.86 and a beta of 1.11. ACI Worldwide, Inc. has a 1 year low of $19.68 and a 1 year high of $29.56. The firm has a 50-day simple moving average of $25.30 and a two-hundred day simple moving average of $24.56.

ACI Worldwide (NASDAQ:ACIW – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The technology company reported $0.95 earnings per share (EPS) for the quarter. The business had revenue of $451.81 million during the quarter. ACI Worldwide had a net margin of 6.80% and a return on equity of 10.76%. Research analysts anticipate that ACI Worldwide, Inc. will post 1.86 earnings per share for the current year.

Insider Activity at ACI Worldwide

In related news, CTO Ram Kumar Puppala sold 14,070 shares of ACI Worldwide stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $24.28, for a total transaction of $341,619.60. Following the transaction, the chief technology officer now directly owns 31,297 shares of the company’s stock, valued at $759,891.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

ACI Worldwide Company Profile

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ACI Worldwide, Inc engages in the development, marketing, installation, and support of software products and solutions primarily focused on facilitating real-time electronic payments. It operates through the following segments: ACI on Premise and ACI on Demand. The ACI on Premise segment serves customers who manage their software on site.