River Road Asset Management LLC lowered its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 73.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 826,514 shares of the technology company's stock after selling 2,291,914 shares during the quarter. River Road Asset Management LLC owned approximately 0.78% of ACI Worldwide worth $42,070,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Swedbank AB acquired a new stake in ACI Worldwide during the first quarter valued at approximately $3,321,000. GSA Capital Partners LLP bought a new position in ACI Worldwide during the first quarter worth $846,000. CANADA LIFE ASSURANCE Co boosted its holdings in ACI Worldwide by 26.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 109,169 shares of the technology company's stock worth $3,623,000 after purchasing an additional 22,992 shares during the period. ClariVest Asset Management LLC raised its holdings in shares of ACI Worldwide by 140.3% during the first quarter. ClariVest Asset Management LLC now owns 62,112 shares of the technology company's stock worth $2,063,000 after purchasing an additional 36,261 shares during the period. Finally, Global Alpha Capital Management Ltd. lifted its position in shares of ACI Worldwide by 9.3% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 2,112,828 shares of the technology company's stock worth $70,167,000 after buying an additional 180,600 shares during the last quarter. Institutional investors own 94.74% of the company's stock.
Wall Street Analyst Weigh In
ACIW has been the topic of several research reports. DA Davidson increased their price objective on shares of ACI Worldwide from $52.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Needham & Company LLC restated a "hold" rating on shares of ACI Worldwide in a research report on Friday, August 2nd. StockNews.com cut ACI Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, August 3rd. Stephens lowered shares of ACI Worldwide from an "overweight" rating to an "equal weight" rating in a research report on Friday, October 18th. Finally, Canaccord Genuity Group lifted 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $48.75.
View Our Latest Research Report on ACIW
ACI Worldwide Stock Performance
Shares of NASDAQ ACIW traded up $1.02 during midday trading on Tuesday, reaching $51.17. 525,291 shares of the company traded hands, compared to its average volume of 643,481. The stock has a 50-day moving average price of $49.82 and a 200 day moving average price of $42.90. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 30.11 and a beta of 1.19. 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 $23.90 and a 52 week high of $53.29.
About ACI Worldwide
(
Free Report)
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.
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