Convergence Investment Partners LLC Acquires 18,939 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Convergence Investment Partners LLC raised its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW) by 49.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,231 shares of the technology company’s stock after acquiring an additional 18,939 shares during the period. Convergence Investment Partners LLC’s holdings in ACI Worldwide were worth $2,971,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ACIW. Principal Financial Group Inc. increased its stake in shares of ACI Worldwide by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 545,506 shares of the technology company’s stock valued at $28,317,000 after buying an additional 20,893 shares during the period. Nkcfo LLC acquired a new stake in ACI Worldwide during the 4th quarter valued at approximately $208,000. Congress Asset Management Co. bought a new position in ACI Worldwide during the 4th quarter worth approximately $55,998,000. Blue Trust Inc. lifted its position 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 worth $30,000 after purchasing an additional 298 shares during the period. Finally, Savant Capital LLC boosted its stake in shares of ACI Worldwide by 12.3% in the 4th quarter. Savant Capital LLC now owns 5,381 shares of the technology company’s stock valued at $279,000 after purchasing an additional 590 shares during the last quarter. Institutional investors and hedge funds own 94.74% of the company’s stock.

ACI Worldwide Stock Up 0.4 %

ACIW stock opened at $52.73 on Wednesday. ACI Worldwide, Inc. has a twelve month low of $29.98 and a twelve month high of $59.71. The firm has a market capitalization of $5.53 billion, a PE ratio of 24.99 and a beta of 1.20. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72. The stock has a 50-day simple moving average of $53.00 and a two-hundred day simple moving average of $51.74.

Insider Buying and Selling at ACI Worldwide

In related news, CTO Abraham Kuruvilla sold 5,400 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $55.71, for a total transaction of $300,834.00. Following the transaction, the chief technology officer now directly owns 81,107 shares of the company’s stock, valued at approximately $4,518,470.97. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson cut shares of ACI Worldwide from a “buy” rating to a “neutral” rating and upped their price target for the company from $57.00 to $60.00 in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, ACI Worldwide has a consensus rating of “Hold” and an average target price of $49.50.

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.