ACI Worldwide (NASDAQ:ACIW – Get Free Report) had its target price reduced by investment analysts at Jefferies Financial Group from $68.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 28.42% from the stock’s previous close.
Several other research firms have also weighed in on ACIW. DA Davidson upgraded shares of ACI Worldwide from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, May 12th. Wall Street Zen raised shares of ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.
View Our Latest Stock Report on ACIW
ACI Worldwide Trading Up 0.9%
ACI Worldwide (NASDAQ:ACIW – Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.18. ACI Worldwide had a net margin of 14.04% and a return on equity of 21.67%. The firm had revenue of $394.57 million for the quarter, compared to analysts’ expectations of $364.36 million. During the same period in the previous year, the company posted $0.10 earnings per share. ACI Worldwide’s revenue was up 24.9% compared to the same quarter last year. On average, analysts predict that ACI Worldwide will post 2 earnings per share for the current year.
Insider Transactions at ACI Worldwide
In other ACI Worldwide news, Director Charles E. Peters, Jr. sold 12,940 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $57.57, for a total transaction of $744,955.80. Following the sale, the director now owns 80,842 shares in the company, valued at $4,654,073.94. This represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas W. Warsop III bought 5,000 shares of ACI Worldwide stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $48.57 per share, for a total transaction of $242,850.00. Following the acquisition, the chief executive officer now owns 326,922 shares in the company, valued at $15,878,601.54. The trade was a 1.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On ACI Worldwide
Large investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in ACI Worldwide during the first quarter valued at $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of ACI Worldwide in the 1st quarter valued at about $25,000. Blue Trust Inc. grew its position in shares of 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 buying an additional 298 shares during the last quarter. Covestor Ltd raised its stake in ACI Worldwide by 239.4% during the fourth quarter. Covestor Ltd now owns 594 shares of the technology company’s stock worth $31,000 after acquiring an additional 419 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in ACI Worldwide during the first quarter worth about $39,000. 94.74% of the stock is currently owned by institutional investors.
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.
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