Public Sector Pension Investment Board Reduces Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Public Sector Pension Investment Board cut its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,068 shares of the technology company's stock after selling 9,900 shares during the period. Public Sector Pension Investment Board owned about 0.21% of ACI Worldwide worth $11,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Hood River Capital Management LLC boosted its holdings in 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 purchasing an additional 743,595 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of ACI Worldwide by 144.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 482,740 shares of the technology company's stock valued at $24,571,000 after buying an additional 285,001 shares in the last quarter. Swedbank AB grew its position in shares of ACI Worldwide by 228.6% in the 2nd quarter. Swedbank AB now owns 328,600 shares of the technology company's stock valued at $13,009,000 after buying an additional 228,600 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in ACI Worldwide during the 2nd quarter worth $7,696,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in ACI Worldwide in the second quarter valued at $7,353,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Stock Performance

Shares of NASDAQ ACIW traded up $0.16 during mid-day trading on Friday, hitting $56.82. 317,862 shares of the company were exchanged, compared to its average volume of 657,463. 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 firm has a market cap of $5.96 billion, a price-to-earnings ratio of 26.85 and a beta of 1.19. The stock has a 50 day simple moving average of $52.45 and a 200-day simple moving average of $45.50. ACI Worldwide, Inc. has a 1-year low of $26.43 and a 1-year high of $59.71.

Analyst Ratings Changes

Several brokerages have issued reports on ACIW. Stephens lowered ACI Worldwide from an "overweight" rating to an "equal weight" rating in a report on Friday, October 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of ACI Worldwide in a research report on Friday, August 2nd. Canaccord Genuity Group increased their price objective on ACI Worldwide from $40.00 to $60.00 and gave the company a "buy" rating in a report on Friday, August 2nd. StockNews.com cut shares of ACI Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, August 3rd. Finally, DA Davidson cut shares of ACI Worldwide from a "buy" rating to a "neutral" rating and increased their price target for the stock from $57.00 to $60.00 in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $49.50.

Insider Transactions at ACI Worldwide

In related news, Director Adalio T. Sanchez sold 1,200 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.28, for a total transaction of $68,736.00. Following the completion of the transaction, the director now directly owns 43,272 shares of the company's stock, valued at $2,478,620.16. This represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

ACI Worldwide Company 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.