OLD National Bancorp IN Acquires New Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

OLD National Bancorp IN purchased a new stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,272 shares of the technology company's stock, valued at approximately $274,000.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp raised its holdings in shares of ACI Worldwide by 1.3% during the third quarter. State Street Corp now owns 4,455,864 shares of the technology company's stock valued at $226,803,000 after purchasing an additional 56,919 shares during the period. Geode Capital Management LLC raised its stake in ACI Worldwide by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,502,628 shares of the technology company's stock worth $127,407,000 after buying an additional 31,561 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in ACI Worldwide by 2.5% in the third 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. Assenagon Asset Management S.A. grew its stake in ACI Worldwide by 144.1% in the third quarter. Assenagon Asset Management S.A. now owns 482,740 shares of the technology company's stock valued at $24,571,000 after acquiring an additional 285,001 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of ACI Worldwide by 32.7% during the third quarter. Fisher Asset Management LLC now owns 462,971 shares of the technology company's stock valued at $23,565,000 after acquiring an additional 114,085 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. DA Davidson cut ACI Worldwide from a "buy" rating to a "neutral" rating and increased their target price for the stock from $57.00 to $60.00 in a report on Friday, November 8th. Stephens cut shares of ACI Worldwide from an "overweight" rating to an "equal weight" rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $49.50.

Insider Buying and Selling

In related news, Director Adalio T. Sanchez sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.28, for a total transaction of $68,736.00. Following the completion of the sale, the director now directly owns 43,272 shares of the company's stock, valued at approximately $2,478,620.16. This trade represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Abraham Kuruvilla sold 5,400 shares of the business's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $55.71, for a total value of $300,834.00. Following the completion of the transaction, the chief technology officer now directly owns 81,107 shares in the company, valued at approximately $4,518,470.97. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

ACI Worldwide Stock Down 1.5 %

NASDAQ:ACIW traded down $0.80 during trading hours on Thursday, hitting $54.03. 662,045 shares of the company traded hands, compared to its average volume of 643,506. ACI Worldwide, Inc. has a one year low of $28.93 and a one year high of $59.71. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.67 billion, a PE ratio of 25.61 and a beta of 1.20. The firm's 50-day simple moving average is $53.51 and its 200-day simple moving average is $51.10.

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.