Millennium Management LLC Trims Stock Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Millennium Management LLC decreased its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 84.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,610 shares of the technology company’s stock after selling 341,776 shares during the period. Millennium Management LLC’s holdings in ACI Worldwide were worth $3,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ACIW. Ironwood Investment Management LLC raised its stake in ACI Worldwide by 0.8% during the 4th quarter. Ironwood Investment Management LLC now owns 30,151 shares of the technology company’s stock valued at $1,565,000 after purchasing an additional 227 shares during the period. Pacer Advisors Inc. raised its stake in ACI Worldwide by 3.2% during the 4th quarter. Pacer Advisors Inc. now owns 7,763 shares of the technology company’s stock valued at $403,000 after purchasing an additional 238 shares during the period. Corient Private Wealth LLC raised its stake in ACI Worldwide by 5.0% during the 4th quarter. Corient Private Wealth LLC now owns 5,638 shares of the technology company’s stock valued at $293,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. raised its stake in ACI Worldwide by 104.9% during the 4th quarter. Blue Trust Inc. now owns 582 shares of the technology company’s stock valued at $30,000 after purchasing an additional 298 shares during the period. Finally, Summit Investment Advisors Inc. raised its stake in ACI Worldwide by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,034 shares of the technology company’s stock valued at $573,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Insider Transactions at ACI Worldwide

In other news, Director Charles E. Peters, Jr. sold 12,940 shares of ACI Worldwide stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $57.57, for a total value of $744,955.80. Following the completion of the transaction, the director now owns 80,842 shares in the company, valued at approximately $4,654,073.94. The trade was a 13.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas W. Warsop III bought 5,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $48.57 per share, with a total value of $242,850.00. Following the acquisition, the chief executive officer now owns 326,922 shares in the company, valued at approximately $15,878,601.54. This trade represents a 1.55% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

ACI Worldwide Stock Performance

NASDAQ ACIW opened at $46.15 on Friday. The stock has a market capitalization of $4.84 billion, a PE ratio of 21.87 and a beta of 1.14. The business has a 50 day simple moving average of $50.90 and a two-hundred day simple moving average of $52.65. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 1.56. ACI Worldwide, Inc. has a 1-year low of $33.32 and a 1-year high of $59.71.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.18. The business had revenue of $394.57 million during the quarter, compared to analysts’ expectations of $364.36 million. ACI Worldwide had a return on equity of 21.67% and a net margin of 14.04%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. On average, research analysts predict that ACI Worldwide, Inc. will post 2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ACIW. DA Davidson raised ACI Worldwide from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, May 12th. Jefferies Financial Group cut their price target on ACI Worldwide from $68.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Wall Street Zen upgraded ACI Worldwide from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

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.