ACI Worldwide (NASDAQ:ACIW) Price Target Raised to $40.00 at Craig Hallum

ACI Worldwide (NASDAQ:ACIW) had its price target boosted by Craig Hallum from $38.00 to $40.00 in a research report released on Wednesday, Benzinga reports. Craig Hallum currently has a buy rating on the technology company’s stock.

ACIW has been the subject of a number of other research reports. TheStreet raised ACI Worldwide from a c rating to a b- rating in a report on Thursday, January 4th. Needham & Company LLC reaffirmed a hold rating on shares of ACI Worldwide in a report on Wednesday. Jefferies Financial Group initiated coverage on ACI Worldwide in a report on Friday, March 8th. They issued a buy rating and a $38.00 price objective for the company. DA Davidson reaffirmed a buy rating and issued a $39.00 price objective on shares of ACI Worldwide in a report on Thursday, March 14th. Finally, Canaccord Genuity Group reaffirmed a buy rating and issued a $40.00 price objective on shares of ACI Worldwide in a report on Friday, March 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, ACI Worldwide has an average rating of Moderate Buy and an average target price of $40.00.

ACI Worldwide Stock Up 0.7 %

ACI Worldwide stock opened at $34.35 on Wednesday. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 25.63 and a beta of 1.20. The stock has a fifty day simple moving average of $32.15 and a two-hundred day simple moving average of $29.21. ACI Worldwide has a 12 month low of $19.56 and a 12 month high of $36.37. The company has a current ratio of 1.37, a quick ratio of 1.36 and a debt-to-equity ratio of 0.78.

ACI Worldwide (NASDAQ:ACIW) last posted its earnings results on Thursday, February 29th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. The business had revenue of $477.00 million during the quarter, compared to analyst estimates of $476.43 million. ACI Worldwide had a return on equity of 17.31% and a net margin of 9.88%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 EPS. Equities analysts predict that ACI Worldwide will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On ACI Worldwide

Institutional investors and hedge funds have recently bought and sold shares of the stock. 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 in the last quarter. State of Alaska Department of Revenue lifted its position in ACI Worldwide by 414.3% during the fourth quarter. State of Alaska Department of Revenue now owns 66,887 shares of the technology company’s stock valued at $2,046,000 after purchasing an additional 53,882 shares in the last quarter. 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position in ACI Worldwide by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,592,421 shares of the technology company’s stock valued at $58,485,000 after purchasing an additional 24,272 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in ACI Worldwide by 28.5% during the third quarter. Handelsbanken Fonder AB now owns 21,334 shares of the technology company’s stock valued at $481,000 after purchasing an additional 4,737 shares in the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

About ACI Worldwide

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.