Principal Financial Group Inc. Sells 41,676 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Principal Financial Group Inc. lowered its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 7.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 524,613 shares of the technology company's stock after selling 41,676 shares during the quarter. Principal Financial Group Inc. owned 0.50% of ACI Worldwide worth $26,703,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ACIW. Farther Finance Advisors LLC lifted its stake in shares of ACI Worldwide by 177.3% in the third quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company's stock worth $26,000 after buying an additional 321 shares in the last quarter. Cetera Trust Company N.A increased its stake in ACI Worldwide by 7.9% during the third quarter. Cetera Trust Company N.A now owns 4,780 shares of the technology company's stock worth $243,000 after purchasing an additional 350 shares during the period. GAMMA Investing LLC increased its stake in ACI Worldwide by 49.3% during the second quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company's stock worth $52,000 after purchasing an additional 431 shares during the period. The Manufacturers Life Insurance Company increased its stake in ACI Worldwide by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 58,872 shares of the technology company's stock worth $2,331,000 after purchasing an additional 469 shares during the period. Finally, EntryPoint Capital LLC boosted its position in shares of ACI Worldwide by 7.3% during the 1st quarter. EntryPoint Capital LLC now owns 7,043 shares of the technology company's stock worth $234,000 after acquiring an additional 478 shares in the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. DA Davidson downgraded ACI Worldwide from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $57.00 to $60.00 in a report on Friday, November 8th. Needham & Company LLC restated a "hold" rating on shares of ACI Worldwide in a report on Friday, August 2nd. StockNews.com downgraded ACI Worldwide from a "buy" rating to a "hold" rating in a research report on Saturday, August 3rd. Stephens downgraded ACI Worldwide from an "overweight" rating to an "equal weight" rating in a report on Friday, October 18th. Finally, Canaccord Genuity Group lifted their price target on ACI Worldwide from $40.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.50.

ACI Worldwide Stock Performance

ACI Worldwide stock traded down $0.01 on Wednesday, reaching $56.76. 368,703 shares of the stock were exchanged, compared to its average volume of 658,404. ACI Worldwide, Inc. has a twelve month low of $24.76 and a twelve month high of $59.60. The stock has a market cap of $5.95 billion, a PE ratio of 27.13 and a beta of 1.19. The firm has a fifty day moving average price of $50.58 and a two-hundred day moving average price of $43.87. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72.

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.