Wedge Capital Management L L P NC Raises Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Wedge Capital Management L L P NC boosted its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 98,063 shares of the technology company’s stock after buying an additional 3,523 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ACI Worldwide were worth $3,001,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ACIW. Assenagon Asset Management S.A. lifted its holdings in shares of ACI Worldwide by 1,265.4% during the third quarter. Assenagon Asset Management S.A. now owns 758,064 shares of the technology company’s stock valued at $17,102,000 after purchasing an additional 702,546 shares during the last quarter. North Reef Capital Management LP lifted its holdings in shares of 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 last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 last quarter. Victory Capital Management Inc. raised its holdings in ACI Worldwide by 1,080.0% in the 3rd quarter. Victory Capital Management Inc. now owns 348,764 shares of the technology company’s stock worth $7,868,000 after acquiring an additional 319,208 shares during the last quarter. Finally, Reinhart Partners LLC. raised its holdings in ACI Worldwide by 9.9% in the 4th 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 during the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACIW has been the subject of a number of recent analyst reports. TheStreet upgraded shares of ACI Worldwide from a “c” rating to a “b-” rating in a report on Thursday, January 4th. DA Davidson reaffirmed a “buy” rating and issued a $39.00 target price on shares of ACI Worldwide in a research report on Thursday, March 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of ACI Worldwide in a research report on Friday, March 15th. Finally, Jefferies Financial Group initiated 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 for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, ACI Worldwide currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

ACI Worldwide Trading Down 0.4 %

Shares of ACI Worldwide stock opened at $33.33 on Thursday. The company has a market capitalization of $3.54 billion, a P/E ratio of 30.03 and a beta of 1.24. ACI Worldwide, Inc. has a fifty-two week low of $19.56 and a fifty-two week high of $33.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.36 and a current ratio of 1.36. The company has a fifty day moving average of $31.92 and a 200 day moving average of $28.77.

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

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.