Convergence Investment Partners LLC Boosts Stock Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Convergence Investment Partners LLC lifted its position in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 49.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,231 shares of the technology company's stock after buying an additional 18,939 shares during the period. Convergence Investment Partners LLC owned approximately 0.05% of ACI Worldwide worth $2,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ACIW. Congress Asset Management Co. purchased a new position in ACI Worldwide in the fourth quarter worth about $55,998,000. Assenagon Asset Management S.A. lifted its stake in shares of ACI Worldwide by 144.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 482,740 shares of the technology company's stock worth $24,571,000 after purchasing an additional 285,001 shares during the period. Barclays PLC boosted its holdings in shares of ACI Worldwide by 244.0% in the third quarter. Barclays PLC now owns 226,173 shares of the technology company's stock worth $11,513,000 after buying an additional 160,425 shares during the last quarter. Fisher Asset Management LLC grew its position in ACI Worldwide by 32.7% during the third quarter. Fisher Asset Management LLC now owns 462,971 shares of the technology company's stock valued at $23,565,000 after buying an additional 114,085 shares during the period. Finally, EULAV Asset Management purchased a new stake in ACI Worldwide during the fourth quarter valued at approximately $5,463,000. Institutional investors own 94.74% of the company's stock.

ACI Worldwide Stock Performance

NASDAQ ACIW traded down $1.14 on Friday, reaching $50.56. 818,499 shares of the stock were exchanged, compared to its average volume of 606,918. 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, Inc. has a one year low of $30.02 and a one year high of $59.71. The firm has a market capitalization of $5.30 billion, a PE ratio of 23.96 and a beta of 1.20. The company's 50-day simple moving average is $52.87 and its two-hundred day simple moving average is $51.74.

Insider Buying and Selling at ACI Worldwide

In related news, CTO Abraham Kuruvilla sold 5,400 shares of the 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 completion of the sale, the chief technology officer now owns 81,107 shares in the company, valued at approximately $4,518,470.97. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

ACI Worldwide 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.