ACI Worldwide, Inc. (NASDAQ:ACIW) Given Average Rating of “Moderate Buy” by Analysts

ACI Worldwide, Inc. (NASDAQ:ACIW) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $47.50.

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 2nd. DA Davidson raised their target price on shares of ACI Worldwide from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a research note on Friday, August 2nd.

Institutional Trading of ACI Worldwide

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning boosted its position in shares of ACI Worldwide by 24.2% during the 2nd quarter. Creative Planning now owns 26,006 shares of the technology company’s stock valued at $1,030,000 after acquiring an additional 5,067 shares in the last quarter. Algert Global LLC boosted its position in shares of ACI Worldwide by 811.5% during the 2nd quarter. Algert Global LLC now owns 155,507 shares of the technology company’s stock valued at $6,157,000 after acquiring an additional 138,447 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of ACI Worldwide by 4.8% during the 2nd quarter. Mackenzie Financial Corp now owns 62,958 shares of the technology company’s stock valued at $2,493,000 after acquiring an additional 2,879 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of ACI Worldwide by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,872 shares of the technology company’s stock valued at $2,331,000 after acquiring an additional 469 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of ACI Worldwide by 710.3% during the 2nd quarter. Millennium Management LLC now owns 94,542 shares of the technology company’s stock valued at $3,743,000 after acquiring an additional 82,875 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Price Performance

NASDAQ ACIW opened at $50.33 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $5.31 billion, a PE ratio of 37.56 and a beta of 1.19. ACI Worldwide has a 12-month low of $19.56 and a 12-month high of $50.80. The company has a 50 day moving average price of $46.43 and a two-hundred day moving average price of $38.92.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.24. The business had revenue of $373.48 million for the quarter, compared to the consensus estimate of $349.95 million. ACI Worldwide had a net margin of 12.01% and a return on equity of 19.18%. As a group, equities analysts predict that ACI Worldwide will post 1.96 earnings per share for the current fiscal year.

ACI Worldwide announced that its board has initiated a stock repurchase program on Thursday, June 13th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.