WCM Investment Management LLC reduced its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 6.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 438,155 shares of the technology company's stock after selling 30,700 shares during the period. WCM Investment Management LLC owned approximately 0.42% of ACI Worldwide worth $22,009,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACIW. Los Angeles Capital Management LLC grew its position in shares of ACI Worldwide by 2.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 32,694 shares of the technology company's stock valued at $1,664,000 after acquiring an additional 704 shares during the period. Meritage Portfolio Management grew its position in shares of ACI Worldwide by 98.2% during the 3rd quarter. Meritage Portfolio Management now owns 17,246 shares of the technology company's stock valued at $878,000 after acquiring an additional 8,546 shares during the period. Atria Investments Inc grew its position in shares of ACI Worldwide by 8.4% during the 3rd quarter. Atria Investments Inc now owns 15,532 shares of the technology company's stock valued at $791,000 after acquiring an additional 1,204 shares during the period. Assetmark Inc. grew its position in shares of ACI Worldwide by 6.6% during the 3rd quarter. Assetmark Inc. now owns 33,636 shares of the technology company's stock valued at $1,712,000 after acquiring an additional 2,096 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of ACI Worldwide during the 3rd quarter valued at about $118,000. 94.74% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on ACIW shares. StockNews.com cut ACI Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, August 3rd. DA Davidson cut ACI Worldwide from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $57.00 to $60.00 in a report on Friday. Stephens cut ACI Worldwide from an "overweight" rating to an "equal weight" rating in a report on Friday, October 18th. Needham & Company LLC reissued a "hold" rating on shares of ACI Worldwide in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group raised their target price on shares of ACI Worldwide from $40.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, ACI Worldwide presently has a consensus rating of "Moderate Buy" and an average target price of $49.50.
Read Our Latest Stock Report on ACIW
ACI Worldwide Trading Down 3.8 %
Shares of ACIW stock traded down $2.19 during trading on Monday, hitting $55.82. 1,200,434 shares of the stock traded hands, compared to its average volume of 654,535. The firm has a market capitalization of $5.84 billion, a P/E ratio of 26.46 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 1.32. The firm's fifty day moving average price is $50.42 and its 200-day moving average price is $43.71. ACI Worldwide, Inc. has a 52-week low of $24.76 and a 52-week high of $59.60.
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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