Norges Bank Buys Shares of 1,225,771 ACI Worldwide, Inc. (NASDAQ:ACIW)

Norges Bank bought a new stake in ACI Worldwide, Inc. (NASDAQ:ACIWFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,225,771 shares of the technology company’s stock, valued at approximately $37,509,000. Norges Bank owned about 1.13% of ACI Worldwide at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in ACI Worldwide by 3.4% in 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 last quarter. State of Alaska Department of Revenue grew its stake in ACI Worldwide by 414.3% in 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 during the last quarter. Maryland State Retirement & Pension System purchased a new position in ACI Worldwide in the fourth quarter valued at about $1,209,000. Reinhart Partners LLC. boosted its holdings in ACI Worldwide by 9.9% in the fourth quarter. Reinhart Partners LLC. now owns 2,265,712 shares of the technology company’s stock worth $69,331,000 after acquiring an additional 203,348 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in ACI Worldwide by 0.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,592,421 shares of the technology company’s stock worth $58,485,000 after acquiring an additional 24,272 shares in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analyst Upgrades and Downgrades

ACIW has been the subject of several recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 price target on shares of ACI Worldwide in a report on Friday, March 15th. 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 target for the company. StockNews.com raised ACI Worldwide from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. DA Davidson raised their price target on ACI Worldwide from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Craig Hallum raised their price target on ACI Worldwide from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, ACI Worldwide presently has an average rating of “Moderate Buy” and an average target price of $40.00.

View Our Latest Report on ACIW

ACI Worldwide Trading Up 0.4 %

ACI Worldwide stock opened at $34.90 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. ACI Worldwide, Inc. has a 52 week low of $19.56 and a 52 week high of $37.85. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 26.04 and a beta of 1.20. The stock has a 50-day moving average price of $34.02 and a 200 day moving average price of $31.22.

ACI Worldwide (NASDAQ:ACIWGet Free Report) last released its earnings results on Tuesday, April 30th. The technology company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.12. ACI Worldwide had a return on equity of 17.31% and a net margin of 9.88%. The firm had revenue of $316.02 million during the quarter, compared to the consensus estimate of $305.25 million. Sell-side analysts anticipate that ACI Worldwide, Inc. will post 1.9 EPS for the current year.

About ACI Worldwide

(Free Report)

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.

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

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