Martingale Asset Management L P Has $2.45 Million Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Martingale Asset Management L P lifted its stake in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 30.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,184 shares of the technology company's stock after buying an additional 11,157 shares during the period. Martingale Asset Management L P's holdings in ACI Worldwide were worth $2,453,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Hood River Capital Management LLC increased its position in shares of 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 worth $95,029,000 after purchasing an additional 743,595 shares in the last quarter. Reinhart Partners LLC. raised its stake in shares of ACI Worldwide by 0.8% in the second quarter. Reinhart Partners LLC. now owns 2,287,849 shares of the technology company's stock valued at $90,576,000 after acquiring an additional 18,229 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ACI Worldwide by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,389,734 shares of the technology company's stock worth $70,737,000 after acquiring an additional 33,408 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of ACI Worldwide by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 949,944 shares of the technology company's stock worth $37,608,000 after acquiring an additional 56,113 shares in the last quarter. Finally, Fiera Capital Corp grew its position in ACI Worldwide by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 896,634 shares of the technology company's stock worth $35,498,000 after acquiring an additional 10,568 shares during the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ACI Worldwide

In other ACI Worldwide news, Director Adalio T. Sanchez sold 1,200 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.28, for a total value of $68,736.00. Following the completion of the sale, the director now directly owns 43,272 shares in the company, valued at $2,478,620.16. This represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company's stock.

ACI Worldwide Trading Up 0.3 %

Shares of NASDAQ:ACIW traded up $0.16 during mid-day trading on Friday, reaching $56.82. The stock had a trading volume of 317,863 shares, compared to its average volume of 763,897. The firm has a 50 day simple moving average of $52.58 and a two-hundred day simple moving average of $45.70. ACI Worldwide, Inc. has a twelve month low of $26.43 and a twelve month high of $59.71. The firm has a market cap of $5.96 billion, a PE ratio of 26.93 and a beta of 1.19. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72.

Analysts Set New Price Targets

A number of equities analysts have commented on ACIW shares. StockNews.com lowered ACI Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, August 3rd. Stephens cut ACI Worldwide from an "overweight" rating to an "equal weight" rating in a report on Friday, October 18th. Finally, DA Davidson cut shares of ACI Worldwide from a "buy" rating to a "neutral" rating and raised their price objective for the company from $57.00 to $60.00 in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.