Raymond James & Associates Reduces Stock Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Posted by Defense World Staff on Oct 24th, 2023

Raymond James & Associates lessened its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW – Free Report) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 211,653 shares of the technology company’s stock after selling 4,412 shares during the quarter. Raymond James & Associates’ holdings in ACI Worldwide were worth $4,904,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Creative Planning boosted its holdings in shares of ACI Worldwide by 2.2% during the 2nd quarter. Creative Planning now owns 33,070 shares of the technology company’s stock valued at $766,000 after acquiring an additional 724 shares during the last quarter. River Road Asset Management LLC boosted its holdings in shares of ACI Worldwide by 3.6% in the second quarter. River Road Asset Management LLC now owns 3,524,055 shares of the technology company’s stock worth $81,652,000 after buying an additional 123,955 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of ACI Worldwide by 6.0% in the second quarter. Louisiana State Employees Retirement System now owns 31,600 shares of the technology company’s stock worth $732,000 after buying an additional 1,800 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of ACI Worldwide by 12.7% in the second quarter. New Mexico Educational Retirement Board now owns 23,000 shares of the technology company’s stock worth $533,000 after buying an additional 2,600 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of ACI Worldwide by 7.2% in the second quarter. WCM Investment Management LLC now owns 456,454 shares of the technology company’s stock worth $10,722,000 after buying an additional 30,491 shares during the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ACIW shares. Canaccord Genuity Group reissued a “buy” rating and issued a $34.00 price objective on shares of ACI Worldwide in a report on Friday, August 4th. StockNews.com started coverage on shares of ACI Worldwide in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Check Out Our Latest Analysis on ACI Worldwide

ACI Worldwide Price Performance

Shares of NASDAQ:ACIW opened at $20.73 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.32 and a quick ratio of 1.32. ACI Worldwide, Inc. has a 1-year low of $19.68 and a 1-year high of $29.14. The company has a market capitalization of $2.25 billion, a P/E ratio of 31.89 and a beta of 1.07. The firm’s 50 day simple moving average is $22.62 and its two-hundred day simple moving average is $23.42.

ACI Worldwide (NASDAQ:ACIW – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.26. ACI Worldwide had a net margin of 5.42% and a return on equity of 9.86%. The business had revenue of $323.00 million for the quarter, compared to the consensus estimate of $306.01 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Research analysts expect that ACI Worldwide, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at ACI Worldwide

In other news, insider Deborah L. Guerra sold 3,426 shares of ACI Worldwide stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $23.22, for a total transaction of $79,551.72. Following the sale, the insider now owns 51,724 shares in the company, valued at $1,201,031.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

ACI Worldwide Profile

(Free Report)

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 merchant management system to deliver digital innovation, handle new payment methods, and maximize margins; ACI Issuing, a digital payment issuing solution for new payment offering and enable channels, services, endpoints, and integrations from a single cloud-based or on-premises solution; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.