ACI Worldwide (NASDAQ:ACIW) Hits New 52-Week High – Here’s Why

ACI Worldwide, Inc. (NASDAQ:ACIW)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $60.38 and last traded at $59.8350, with a volume of 184549 shares trading hands. The stock had previously closed at $57.88.

Analysts Set New Price Targets

A number of analysts have weighed in on ACIW shares. Zacks Research raised shares of ACI Worldwide from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. DA Davidson increased their target price on shares of ACI Worldwide from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of ACI Worldwide from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $64.00.

ACI Worldwide Trading Up 4.2%

The business has a 50-day moving average of $48.73 and a 200-day moving average of $44.42. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 30.34 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 1.53.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.45 by $0.16. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The company had revenue of $425.75 million for the quarter, compared to analyst estimates of $410.08 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, research analysts forecast that ACI Worldwide, Inc. will post 2.69 EPS for the current year.

Hedge Funds Weigh In On ACI Worldwide

A number of institutional investors have recently modified their holdings of ACIW. Jefferson Bridge Capital LLC acquired a new position in ACI Worldwide in the fourth quarter valued at $1,176,000. WCM Investment Management LLC boosted its stake in shares of ACI Worldwide by 16.8% during the first quarter. WCM Investment Management LLC now owns 516,342 shares of the technology company’s stock worth $20,814,000 after buying an additional 74,085 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of ACI Worldwide by 27.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 166,400 shares of the technology company’s stock worth $7,956,000 after buying an additional 35,700 shares during the period. SG Americas Securities LLC purchased a new position in shares of ACI Worldwide during the fourth quarter worth about $3,290,000. Finally, Rice Hall James & Associates LLC grew its holdings in shares of ACI Worldwide by 2.2% during the first quarter. Rice Hall James & Associates LLC now owns 1,003,356 shares of the technology company’s stock worth $41,148,000 after buying an additional 22,042 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

About ACI Worldwide

ACI Worldwide (NASDAQ:ACIW) is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company’s platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI’s modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.