State of New Jersey Common Pension Fund D Cuts Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

State of New Jersey Common Pension Fund D lessened its position in ACI Worldwide, Inc. (NASDAQ:ACIW) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 92,446 shares of the technology company’s stock after selling 12,588 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of ACI Worldwide worth $2,829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ACIW. Assenagon Asset Management S.A. lifted its stake in shares of ACI Worldwide by 1,265.4% in the third quarter. Assenagon Asset Management S.A. now owns 758,064 shares of the technology company’s stock worth $17,102,000 after buying an additional 702,546 shares in the last quarter. North Reef Capital Management LP lifted its position in ACI Worldwide by 26.3% during the third quarter. North Reef Capital Management LP now owns 2,845,000 shares of the technology company’s stock valued at $64,183,000 after purchasing an additional 592,735 shares during the period. Vanguard Group Inc. lifted its position in ACI Worldwide by 3.4% during the third quarter. Vanguard Group Inc. now owns 11,976,433 shares of the technology company’s stock valued at $270,188,000 after purchasing an additional 389,424 shares during the period. Victory Capital Management Inc. lifted its position in ACI Worldwide by 1,080.0% during the third quarter. Victory Capital Management Inc. now owns 348,764 shares of the technology company’s stock valued at $7,868,000 after purchasing an additional 319,208 shares during the period. Finally, Reinhart Partners LLC. lifted its position in ACI Worldwide by 9.9% during the fourth quarter. Reinhart Partners LLC. now owns 2,265,712 shares of the technology company’s stock valued at $69,331,000 after purchasing an additional 203,348 shares during the period. Institutional investors own 94.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACIW. Jefferies Financial Group began coverage on shares of ACI Worldwide in a research report on Friday, March 8th. They set a “buy” rating and a $38.00 price objective on the stock. Canaccord Genuity Group restated a “buy” rating and set a $40.00 price objective on shares of ACI Worldwide in a research report on Friday, March 15th. TheStreet upgraded shares of ACI Worldwide from a “c” rating to a “b-” rating in a research report on Thursday, January 4th. Finally, DA Davidson restated a “buy” rating and set a $39.00 price objective on shares of ACI Worldwide in a research report on Thursday, March 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.00.

ACI Worldwide Stock Down 0.6 %

Shares of ACIW stock opened at $33.10 on Tuesday. ACI Worldwide, Inc. has a 12 month low of $19.56 and a 12 month high of $33.83. The stock has a market cap of $3.52 billion, a P/E ratio of 29.82 and a beta of 1.24. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $32.08 and a two-hundred day simple moving average of $29.11.

ACI Worldwide (NASDAQ:ACIW) last announced its earnings results on Thursday, February 29th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. ACI Worldwide had a net margin of 8.37% and a return on equity of 16.30%. The business had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $476.43 million. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, research analysts expect that ACI Worldwide, Inc. will post 1.83 earnings per share for the current year.

ACI Worldwide Company Profile

ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments in the United States and internationally. The company operates in three segments: Banks, Merchants, and Billers. The company offers ACI Acquiring, a solution to process credit, debit, and prepaid card transactions, deliver digital innovation, and fraud prevention; ACI Issuing, a digital payment issuing solution for new payment offering; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.