Amalgamated Bank Cuts Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Amalgamated Bank reduced its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 4.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 30,875 shares of the technology company’s stock after selling 1,288 shares during the quarter. Amalgamated Bank’s holdings in ACI Worldwide were worth $1,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB bought a new stake in ACI Worldwide in the 1st quarter valued at about $3,321,000. CANADA LIFE ASSURANCE Co raised its stake in ACI Worldwide by 26.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 109,169 shares of the technology company’s stock valued at $3,623,000 after acquiring an additional 22,992 shares during the period. Oliver Luxxe Assets LLC raised its stake in ACI Worldwide by 98.5% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 33,078 shares of the technology company’s stock valued at $1,684,000 after acquiring an additional 16,418 shares during the period. Algert Global LLC raised its stake in ACI Worldwide by 811.5% in the 2nd quarter. Algert Global LLC now owns 155,507 shares of the technology company’s stock valued at $6,157,000 after acquiring an additional 138,447 shares during the period. Finally, Sei Investments Co. raised its stake in ACI Worldwide by 2.8% in the 2nd quarter. Sei Investments Co. now owns 427,936 shares of the technology company’s stock valued at $16,942,000 after acquiring an additional 11,638 shares during the period. 94.74% of the stock is owned by hedge funds and other institutional investors.

ACI Worldwide Trading Up 1.7 %

Shares of ACIW opened at $56.77 on Wednesday. ACI Worldwide, Inc. has a twelve month low of $24.76 and a twelve month high of $59.60. The company has a quick ratio of 1.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.72. The stock has a market cap of $5.94 billion, a PE ratio of 26.91 and a beta of 1.19. The business’s 50-day moving average price is $50.58 and its 200-day moving average price is $43.87.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ACIW shares. DA Davidson cut ACI Worldwide from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $57.00 to $60.00 in a research note on Friday, November 8th. Canaccord Genuity Group boosted their price objective on ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stephens cut ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 18th. StockNews.com cut ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ACI Worldwide has a consensus rating of “Moderate Buy” and an average price target of $49.50.

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.