ACI Worldwide (NASDAQ:ACIW) Reaches New 52-Week High After Earnings Beat

ACI Worldwide, Inc. (NASDAQ:ACIW) shares reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $63.10 and last traded at $62.6510, with a volume of 127,749 shares changing hands. The stock had previously closed at $59.19.

The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.17. ACI Worldwide had a net margin of 12.40% and a return on equity of 17.62%. The company had revenue of $426.81 million for the quarter, compared to the consensus estimate of $421.91 million. During the same period in the prior year, the firm posted $1.09 EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen downgraded ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. DA Davidson reaffirmed a “buy” rating and set a $66.00 price target on shares of ACI Worldwide in a research report on Wednesday, September 2nd. Stephens assumed coverage on ACI Worldwide in a research report on Friday, October 16th. They set an “equal weight” rating and a $56.00 price target on the stock. Zacks Research upgraded ACI Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings raised ACI Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, ACI Worldwide presently has an average rating of “Buy” and an average price target of $61.00.

Institutional Investors Weigh In On ACI Worldwide

A number of hedge funds and other institutional investors have recently modified their holdings of ACIW. Essential Partners LLC grew its stake in shares of ACI Worldwide by 80.3% during the 1st quarter. Essential Partners LLC now owns 734 shares of the technology company’s stock valued at $30,000 after buying an additional 327 shares during the period. Root Financial Partners LLC purchased a new position in shares of ACI Worldwide in the 3rd quarter worth $42,000. IFP Advisors Inc raised its position in shares of ACI Worldwide by 138.5% in the 2nd quarter. IFP Advisors Inc now owns 1,121 shares of the technology company’s stock worth $56,000 after buying an additional 651 shares during the period. Allworth Financial LP purchased a new position in shares of ACI Worldwide in the 2nd quarter worth $58,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in ACI Worldwide by 47.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,388 shares of the technology company’s stock valued at $57,000 after acquiring an additional 444 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Stock Up 4.7%

The stock has a fifty day moving average of $52.44 and a two-hundred day moving average of $47.44. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.52. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 28.41 and a beta of 1.00.

ACI Worldwide Company Profile

ACI Worldwide, Inc (NASDAQ: ACIW) develops and provides electronic payment software and services for merchants, banks, financial institutions, billers and other organizations. Its technology is designed to support payment acceptance, transaction processing, fraud prevention and the movement of money across digital and traditional channels.

The company’s offerings include payment orchestration and acquiring solutions, real-time payments, bill payment and electronic bill presentment, fraud management, and software for retail and enterprise payment operations.