Ieq Capital LLC Invests $287,000 in ACI Worldwide, Inc. (NASDAQ:ACIW)

Ieq Capital LLC purchased a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,528 shares of the technology company's stock, valued at approximately $287,000.

Several other hedge funds also recently added to or reduced their stakes in ACIW. State Street Corp raised its holdings in shares of ACI Worldwide by 1.3% in the third quarter. State Street Corp now owns 4,455,864 shares of the technology company's stock worth $226,803,000 after buying an additional 56,919 shares during the period. Geode Capital Management LLC grew its position in ACI Worldwide by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,502,628 shares of the technology company's stock valued at $127,407,000 after acquiring an additional 31,561 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in ACI Worldwide by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,389,734 shares of the technology company's stock worth $70,737,000 after purchasing an additional 33,408 shares during the period. Congress Asset Management Co. bought a new stake in shares of ACI Worldwide during the fourth quarter worth $55,998,000. Finally, Principal Financial Group Inc. boosted its stake in shares of ACI Worldwide by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 545,506 shares of the technology company's stock valued at $28,317,000 after purchasing an additional 20,893 shares during the period. 94.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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Insiders Place Their Bets

In other news, CTO Abraham Kuruvilla sold 5,400 shares of ACI Worldwide stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $55.71, for a total value of $300,834.00. Following the transaction, the chief technology officer now owns 81,107 shares of the company's stock, valued at $4,518,470.97. The trade was a 6.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

ACI Worldwide Stock Down 0.9 %

Shares of NASDAQ ACIW traded down $0.48 during midday trading on Tuesday, reaching $54.48. 353,549 shares of the company's stock traded hands, compared to its average volume of 637,312. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 25.81 and a beta of 1.20. ACI Worldwide, Inc. has a one year low of $30.82 and a one year high of $59.71. 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's 50 day simple moving average is $52.81 and its 200-day simple moving average is $52.15.

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.