ACI Worldwide (NASDAQ:ACIW) Price Target Raised to $42.00 at DA Davidson

ACI Worldwide (NASDAQ:ACIW) had its price target lifted by DA Davidson from $36.00 to $42.00 in a research note released on Wednesday, Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

A number of other analysts have also weighed in on ACIW. Craig Hallum raised their price objective on shares of ACI Worldwide from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday. Needham & Company LLC restated a hold rating on shares of ACI Worldwide in a research note on Wednesday. Jefferies Financial Group initiated coverage on shares of ACI Worldwide in a research note on Friday, March 8th. They set a buy rating and a $38.00 price objective for the company. Canaccord Genuity Group restated a buy rating and set a $40.00 price objective on shares of ACI Worldwide in a research note on Friday, March 15th. Finally, TheStreet upgraded shares of ACI Worldwide from a c rating to a b- rating in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $40.00.

ACI Worldwide Trading Up 0.7 %

Shares of NASDAQ ACIW opened at $34.35 on Wednesday. ACI Worldwide has a 1 year low of $19.56 and a 1 year high of $36.37. The stock has a market cap of $3.65 billion, a P/E ratio of 25.63 and a beta of 1.20. The firm has a 50-day moving average of $32.15 and a 200 day moving average of $29.21. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.37 and a quick ratio of 1.36.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. ACI Worldwide had a net margin of 9.88% and a return on equity of 17.31%. The company had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $476.43 million. During the same period last year, the company posted $0.95 EPS. ACI Worldwide’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts expect that ACI Worldwide will post 1.83 EPS for the current fiscal year.

Institutional Trading of ACI Worldwide

Large investors have recently made changes to their positions in the stock. Covestor Ltd grew its stake in shares of ACI Worldwide by 136.6% in the third quarter. Covestor Ltd now owns 1,417 shares of the technology company’s stock worth $32,000 after acquiring an additional 818 shares during the period. Strs Ohio grew its position in ACI Worldwide by 142.9% during the third quarter. Strs Ohio now owns 1,700 shares of the technology company’s stock valued at $38,000 after buying an additional 1,000 shares during the period. Watershed Asset Management L.L.C. bought a new stake in ACI Worldwide during the fourth quarter valued at approximately $296,000. Janney Montgomery Scott LLC grew its position in ACI Worldwide by 40.2% during the first quarter. Janney Montgomery Scott LLC now owns 11,538 shares of the technology company’s stock valued at $383,000 after buying an additional 3,307 shares during the period. Finally, SkyView Investment Advisors LLC grew its position in ACI Worldwide by 3.8% during the third quarter. SkyView Investment Advisors LLC now owns 11,998 shares of the technology company’s stock valued at $271,000 after buying an additional 444 shares during the period. 94.74% of the stock is currently owned by 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.