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

Wedge Capital Management L L P NC lowered its position in ACI Worldwide, Inc. (NASDAQ:ACIW) by 52.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,961 shares of the technology company’s stock after selling 31,376 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ACI Worldwide were worth $1,584,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of ACI Worldwide by 104.9% in the 4th quarter. Blue Trust Inc. now owns 582 shares of the technology company’s stock valued at $30,000 after acquiring an additional 298 shares during the period. Covestor Ltd increased its stake in ACI Worldwide by 239.4% in the 4th quarter. Covestor Ltd now owns 594 shares of the technology company’s stock valued at $31,000 after buying an additional 419 shares during the period. Versant Capital Management Inc increased its stake in ACI Worldwide by 121.3% in the 1st quarter. Versant Capital Management Inc now owns 885 shares of the technology company’s stock valued at $48,000 after buying an additional 485 shares during the period. Farther Finance Advisors LLC boosted its position in shares of ACI Worldwide by 278.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,899 shares of the technology company’s stock worth $99,000 after purchasing an additional 1,397 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in shares of ACI Worldwide during the 1st quarter worth $202,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analysts Set New Price Targets

ACIW has been the topic of several research analyst reports. Wall Street Zen upgraded shares of ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Jefferies Financial Group reduced their target price on shares of ACI Worldwide from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, May 27th. Finally, DA Davidson raised shares of ACI Worldwide from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ACI Worldwide presently has an average rating of “Moderate Buy” and an average price target of $60.00.

ACI Worldwide Stock Down 0.9%

ACIW opened at $47.38 on Wednesday. The firm has a 50 day moving average price of $49.75 and a 200 day moving average price of $52.22. The company has a market cap of $4.97 billion, a PE ratio of 22.46 and a beta of 1.07. ACI Worldwide, Inc. has a 1 year low of $34.04 and a 1 year high of $59.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.56 and a current ratio of 1.56.

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, topping analysts’ consensus estimates of $0.33 by $0.18. The firm 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%. ACI Worldwide’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. Sell-side analysts expect that ACI Worldwide, Inc. will post 2 earnings per share for the current year.

Insider Activity

In other ACI Worldwide news, CEO Thomas W. Warsop III bought 5,000 shares of ACI Worldwide stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $48.57 per share, for a total transaction of $242,850.00. Following the purchase, the chief executive officer now owns 326,922 shares in the company, valued at $15,878,601.54. This represents a 1.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

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.