Jennison Associates LLC Invests $756,000 in ACI Worldwide, Inc. (NASDAQ:ACIW)

Jennison Associates LLC bought a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,849 shares of the technology company's stock, valued at approximately $756,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in shares of ACI Worldwide by 177.3% during the third quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company's stock worth $26,000 after purchasing an additional 321 shares during the last quarter. Cetera Trust Company N.A lifted its position 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 buying an additional 350 shares during the period. GAMMA Investing LLC grew its holdings in ACI Worldwide by 49.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company's stock valued at $52,000 after buying an additional 431 shares during the period. The Manufacturers Life Insurance Company grew its holdings in ACI Worldwide by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 58,872 shares of the technology company's stock valued at $2,331,000 after purchasing an additional 469 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of ACI Worldwide by 123.3% in the 2nd quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company's stock valued at $45,000 after purchasing an additional 624 shares during the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ACI Worldwide news, Director Adalio T. Sanchez sold 1,200 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.28, for a total value of $68,736.00. Following the sale, the director now directly owns 43,272 shares in the company, valued at approximately $2,478,620.16. This trade represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ACIW shares. Canaccord Genuity Group upped their price objective on shares of ACI Worldwide from $40.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. DA Davidson lowered shares of 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. StockNews.com downgraded shares of ACI Worldwide from a "buy" rating to a "hold" rating in a research report on Saturday, August 3rd. Stephens cut shares of ACI Worldwide from an "overweight" rating to an "equal weight" rating in a research report on Friday, October 18th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ACI Worldwide in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $49.50.

ACI Worldwide Stock Performance

Shares of ACI Worldwide stock traded up $2.92 during trading hours on Friday, reaching $58.64. The company's stock had a trading volume of 912,101 shares, compared to its average volume of 709,970. ACI Worldwide, Inc. has a one year low of $24.76 and a one year high of $59.60. The company's 50 day simple moving average is $51.80 and its 200 day simple moving average is $45.03. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market cap of $6.15 billion, a P/E ratio of 27.79 and a beta of 1.19.

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.