Intech Investment Management LLC Purchases New Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Intech Investment Management LLC purchased a new position in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,524 shares of the technology company's stock, valued at approximately $1,248,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Hood River Capital Management LLC increased its position in ACI Worldwide by 44.9% during the 2nd quarter. Hood River Capital Management LLC now owns 2,400,340 shares of the technology company's stock valued at $95,029,000 after buying an additional 743,595 shares in the last quarter. Reinhart Partners LLC. boosted its stake in shares of ACI Worldwide by 0.8% during the 2nd quarter. Reinhart Partners LLC. now owns 2,287,849 shares of the technology company's stock worth $90,576,000 after acquiring an additional 18,229 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of ACI Worldwide by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 949,944 shares of the technology company's stock valued at $37,608,000 after acquiring an additional 56,113 shares during the period. Fiera Capital Corp raised its holdings in ACI Worldwide by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 896,634 shares of the technology company's stock worth $35,498,000 after purchasing an additional 10,568 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in ACI Worldwide by 0.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 673,142 shares of the technology company's stock valued at $22,356,000 after purchasing an additional 3,983 shares in the last quarter. Institutional investors own 94.74% of the company's stock.

Insider Activity

In related news, Director Adalio T. Sanchez sold 1,200 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.28, for a total transaction of $68,736.00. Following the completion of the transaction, the director now owns 43,272 shares in the company, valued at $2,478,620.16. The trade was a 2.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ACIW shares. Needham & Company LLC reaffirmed a "hold" rating on shares of ACI Worldwide in a report on Friday, August 2nd. Stephens lowered shares of ACI Worldwide from an "overweight" rating to an "equal weight" rating in a research report on Friday, October 18th. StockNews.com downgraded shares of ACI Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, August 3rd. Canaccord Genuity Group lifted their target price on ACI Worldwide from $40.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, DA Davidson lowered ACI Worldwide from a "buy" rating to a "neutral" rating and increased their price target for the company 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $49.50.

ACI Worldwide Trading Down 1.1 %

NASDAQ ACIW traded down $0.64 during trading hours on Wednesday, hitting $56.66. 468,328 shares of the company were exchanged, compared to its average volume of 658,939. The stock has a market cap of $5.94 billion, a PE ratio of 26.89 and a beta of 1.19. ACI Worldwide, Inc. has a 52 week low of $26.43 and a 52 week high of $59.71. The stock has a 50-day moving average price of $52.15 and a 200 day moving average price of $45.34. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72.

About ACI Worldwide

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.