Bank of America Corp DE Boosts Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Posted by Defense World Staff on Jun 8th, 2023

Bank of America Corp DE grew its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW – Get Rating) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,079,856 shares of the technology company’s stock after buying an additional 246,783 shares during the period. Bank of America Corp DE owned 1.85% of ACI Worldwide worth $47,837,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ACIW. Inspire Investing LLC boosted its position in shares of ACI Worldwide by 3.8% during the fourth quarter. Inspire Investing LLC now owns 10,205 shares of the technology company’s stock valued at $235,000 after purchasing an additional 374 shares in the last quarter. Mariner LLC lifted its holdings in shares of ACI Worldwide by 3.7% during the first quarter. Mariner LLC now owns 10,994 shares of the technology company’s stock valued at $346,000 after purchasing an additional 392 shares in the last quarter. Credit Suisse AG lifted its holdings in shares of ACI Worldwide by 0.3% during the second quarter. Credit Suisse AG now owns 154,775 shares of the technology company’s stock valued at $4,007,000 after purchasing an additional 434 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of ACI Worldwide by 3.5% during the first quarter. Hsbc Holdings PLC now owns 13,574 shares of the technology company’s stock valued at $435,000 after purchasing an additional 456 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of ACI Worldwide by 0.3% during the second quarter. Legal & General Group Plc now owns 184,248 shares of the technology company’s stock valued at $4,770,000 after purchasing an additional 548 shares in the last quarter. 97.55% of the stock is owned by hedge funds and other institutional investors.

ACI Worldwide Stock Performance

Shares of ACIW opened at $24.14 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $24.78 and a two-hundred day simple moving average of $24.73. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 29.08 and a beta of 1.11. ACI Worldwide, Inc. has a 52 week low of $19.68 and a 52 week high of $29.56.

Insider Transactions at ACI Worldwide

In other news, insider Deborah L. Guerra sold 7,939 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $23.09, for a total value of $183,311.51. Following the completion of the transaction, the insider now owns 55,002 shares of the company’s stock, valued at $1,269,996.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO Ram Kumar Puppala sold 14,070 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $24.28, for a total transaction of $341,619.60. Following the completion of the transaction, the chief technology officer now directly owns 31,297 shares of the company’s stock, valued at $759,891.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Deborah L. Guerra sold 7,939 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $23.09, for a total value of $183,311.51. Following the completion of the sale, the insider now directly owns 55,002 shares of the company’s stock, valued at $1,269,996.18. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ACIW shares. Stephens upped their price target on ACI Worldwide from $27.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, March 2nd. DA Davidson upped their price objective on ACI Worldwide from $29.00 to $34.00 in a research report on Thursday, March 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 price objective on shares of ACI Worldwide in a research report on Thursday, March 2nd. TheStreet cut ACI Worldwide from a “b-” rating to a “c” rating in a research report on Friday, May 5th. Finally, StockNews.com began coverage on ACI Worldwide in a research report on Thursday, May 18th. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

About ACI Worldwide

(Get Rating)

ACI Worldwide, Inc engages in the development, marketing, installation, and support of software products and solutions primarily focused on facilitating real-time electronic payments. It operates through the following segments: ACI on Premise and ACI on Demand. The ACI on Premise segment serves customers who manage their software on site.