Oliver Luxxe Assets LLC Increases Stock Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Oliver Luxxe Assets LLC boosted its stake in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 98.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,078 shares of the technology company's stock after purchasing an additional 16,418 shares during the period. Oliver Luxxe Assets LLC's holdings in ACI Worldwide were worth $1,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of ACI Worldwide by 10.3% in the fourth quarter. Vanguard Group Inc. now owns 13,204,817 shares of the technology company's stock worth $404,067,000 after purchasing an additional 1,228,384 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of ACI Worldwide by 44.9% in the second 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 during the period. Swedbank AB raised its position in shares of ACI Worldwide by 228.6% during the second quarter. Swedbank AB now owns 328,600 shares of the technology company's stock worth $13,009,000 after acquiring an additional 228,600 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of ACI Worldwide in the second quarter worth approximately $7,696,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of ACI Worldwide in the second quarter worth approximately $7,353,000. Institutional investors own 94.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ACIW shares. Needham & Company LLC restated a "hold" rating on shares of ACI Worldwide in a report on Friday, August 2nd. DA Davidson upped their price target on shares of ACI Worldwide from $48.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Canaccord Genuity Group increased their price target on ACI Worldwide from $40.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, StockNews.com downgraded ACI Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, August 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, ACI Worldwide presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

ACI Worldwide Stock Performance

Shares of NASDAQ ACIW remained flat at $52.66 during trading on Monday. 367,037 shares of the stock traded hands, compared to its average volume of 657,255. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 31.16 and a beta of 1.19. The firm has a fifty day moving average of $48.97 and a two-hundred day moving average of $41.03. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.32. ACI Worldwide, Inc. has a 52-week low of $19.56 and a 52-week high of $52.89.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.24. The business had revenue of $373.48 million for 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, analysts predict that ACI Worldwide, Inc. will post 1.96 EPS for the current year.

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.