Magnetar Financial LLC Takes Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Magnetar Financial LLC acquired a new stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,417 shares of the technology company's stock, valued at approximately $531,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ACIW. Fifth Third Bancorp raised its holdings in shares of ACI Worldwide by 123.3% in the second quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company's stock worth $45,000 after buying an additional 624 shares during the last quarter. GAMMA Investing LLC lifted its position in ACI Worldwide by 49.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company's stock worth $52,000 after acquiring an additional 431 shares during the period. CWM LLC increased its holdings in shares of ACI Worldwide by 638.5% in the second quarter. CWM LLC now owns 1,322 shares of the technology company's stock valued at $52,000 after purchasing an additional 1,143 shares during the period. Innealta Capital LLC purchased a new position in shares of ACI Worldwide in the second quarter worth about $154,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of ACI Worldwide during the second quarter worth about $166,000. 94.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACIW has been the topic of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of ACI Worldwide in a report on Friday, August 2nd. DA Davidson raised their target price on shares of ACI Worldwide from $48.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, August 5th. StockNews.com lowered shares of ACI Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, August 3rd. Finally, Canaccord Genuity Group lifted their price objective on ACI Worldwide from $40.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $47.50.

ACI Worldwide Stock Performance

Shares of NASDAQ ACIW opened at $50.20 on Wednesday. The company's fifty day moving average price is $46.76 and its 200 day moving average price is $39.18. The company has a market capitalization of $5.25 billion, a PE ratio of 37.46 and a beta of 1.19. ACI Worldwide, Inc. has a 1 year low of $19.56 and a 1 year high of $51.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.32 and a current ratio of 1.32.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.24. The business had revenue of $373.48 million during the quarter, compared to the consensus estimate of $349.95 million. ACI Worldwide had a return on equity of 19.18% and a net margin of 12.01%. On average, research analysts predict that ACI Worldwide, Inc. will post 1.96 earnings per share for the current year.

ACI Worldwide declared that its Board of Directors has approved a stock buyback plan on Thursday, June 13th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

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.