Fred Alger Management LLC Reduces Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Fred Alger Management LLC lessened its position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 21.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 69,236 shares of the technology company’s stock after selling 19,106 shares during the quarter. Fred Alger Management LLC’s holdings in ACI Worldwide were worth $3,594,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in ACI Worldwide by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 13,863,463 shares of the technology company’s stock valued at $719,652,000 after purchasing an additional 189,980 shares during the period. Hood River Capital Management LLC increased its position in shares of ACI Worldwide by 3.1% during the 4th quarter. Hood River Capital Management LLC now owns 3,374,507 shares of the technology company’s stock worth $175,171,000 after purchasing an additional 100,311 shares during the last quarter. Geode Capital Management LLC raised its holdings in ACI Worldwide by 18.4% in the 4th quarter. Geode Capital Management LLC now owns 2,962,449 shares of the technology company’s stock valued at $154,095,000 after buying an additional 459,821 shares during the period. North Reef Capital Management LP lifted its position in ACI Worldwide by 18.3% in the fourth quarter. North Reef Capital Management LP now owns 2,141,000 shares of the technology company’s stock valued at $111,139,000 after buying an additional 331,000 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in ACI Worldwide by 8.5% during the fourth quarter. Invesco Ltd. now owns 2,013,328 shares of the technology company’s stock worth $104,512,000 after buying an additional 157,303 shares during the period. 94.74% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Price Performance

Shares of ACIW opened at $46.50 on Friday. The firm has a 50-day simple moving average of $52.57 and a two-hundred day simple moving average of $53.13. 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. The stock has a market cap of $4.89 billion, a PE ratio of 22.04 and a beta of 1.14.

ACI Worldwide (NASDAQ:ACIW) last posted its 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. 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 during the quarter, compared to the consensus estimate of $364.36 million. During the same quarter last year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, analysts forecast that ACI Worldwide, Inc. will post 2 EPS for the current year.

Insider Activity at ACI Worldwide

In related 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 shares were sold at an average price of $57.57, for a total transaction of $744,955.80. Following the sale, the director now directly owns 80,842 shares of the company’s stock, valued at $4,654,073.94. This represents a 13.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.