Jefferies Financial Group Cuts ACI Worldwide (NASDAQ:ACIW) Price Target to $60.00

ACI Worldwide (NASDAQ:ACIW) had its price objective decreased by Jefferies Financial Group from $68.00 to $60.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

ACIW has been the subject of a number of other reports. DA Davidson raised shares of ACI Worldwide from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, May 12th. Wall Street Zen raised shares of ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

ACI Worldwide Trading Down 0.3%

Shares of ACIW stock opened at $46.14 on Tuesday. The stock has a 50-day simple moving average of $51.09 and a 200 day simple moving average of $52.73. ACI Worldwide has a fifty-two week low of $33.32 and a fifty-two week high of $59.71. The stock has a market capitalization of $4.84 billion, a P/E ratio of 21.87 and a beta of 1.14. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.18. ACI Worldwide had a net margin of 14.04% and a return on equity of 21.67%. The company had revenue of $394.57 million during the quarter, compared to analyst estimates of $364.36 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts expect that ACI Worldwide will post 2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles E. Peters, Jr. sold 12,940 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $57.57, for a total value of $744,955.80. Following the transaction, the director now owns 80,842 shares in the company, valued at approximately $4,654,073.94. This represents a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas W. Warsop III acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $48.57 per share, for a total transaction of $242,850.00. Following the acquisition, the chief executive officer now directly owns 326,922 shares of the company’s stock, valued at $15,878,601.54. The trade was a 1.55% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACI Worldwide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in ACI Worldwide by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 13,863,463 shares of the technology company’s stock valued at $719,652,000 after purchasing an additional 189,980 shares during the last quarter. Hood River Capital Management LLC grew its holdings in ACI Worldwide by 3.1% during the fourth quarter. Hood River Capital Management LLC now owns 3,374,507 shares of the technology company’s stock valued at $175,171,000 after purchasing an additional 100,311 shares during the last quarter. Geode Capital Management LLC grew its holdings in ACI Worldwide by 18.4% during the fourth quarter. Geode Capital Management LLC now owns 2,962,449 shares of the technology company’s stock valued at $154,095,000 after purchasing an additional 459,821 shares during the last quarter. North Reef Capital Management LP grew its holdings in ACI Worldwide by 18.3% during the fourth quarter. North Reef Capital Management LP now owns 2,141,000 shares of the technology company’s stock valued at $111,139,000 after purchasing an additional 331,000 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in ACI Worldwide by 0.7% during the first quarter. Invesco Ltd. now owns 2,027,606 shares of the technology company’s stock valued at $110,930,000 after purchasing an additional 14,278 shares during the last quarter. Institutional investors and hedge funds own 94.74% 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.