Needham & Company LLC Reaffirms Hold Rating for ACI Worldwide (NASDAQ:ACIW)

Needham & Company LLC restated their hold rating on shares of ACI Worldwide (NASDAQ:ACIW) in a report published on Wednesday morning, Benzinga reports.

ACIW has been the subject of a number of other reports. TheStreet raised ACI Worldwide from a c rating to a b- rating in a research report on Thursday, January 4th. Jefferies Financial Group assumed coverage on ACI Worldwide in a report on Friday, March 8th. They set a buy rating and a $38.00 price target for the company. Canaccord Genuity Group reiterated a buy rating and issued a $40.00 price objective on shares of ACI Worldwide in a report on Friday, March 15th. Finally, DA Davidson restated a buy rating and set a $39.00 target price on shares of ACI Worldwide in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $40.00.

ACI Worldwide Price Performance

NASDAQ:ACIW opened at $35.12 on Wednesday. The stock has a market capitalization of $3.73 billion, a PE ratio of 26.46 and a beta of 1.20. ACI Worldwide has a 1-year low of $19.56 and a 1-year high of $36.37. The firm has a fifty day simple moving average of $32.33 and a 200 day simple moving average of $29.29. The company has a current ratio of 1.37, a quick ratio of 1.36 and a debt-to-equity ratio of 0.78.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.17. ACI Worldwide had a net margin of 9.88% and a return on equity of 17.31%. The company had revenue of $477.00 million for the quarter, compared to analyst estimates of $476.43 million. During the same period in the previous year, the business earned $0.95 EPS. ACI Worldwide’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts expect that ACI Worldwide will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of ACI Worldwide by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 13,204,817 shares of the technology company’s stock worth $404,067,000 after buying an additional 1,228,384 shares in the last quarter. Norges Bank bought a new stake in shares of ACI Worldwide during the 4th quarter worth approximately $37,509,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of ACI Worldwide by 9,610.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 907,098 shares of the technology company’s stock valued at $27,757,000 after purchasing an additional 897,757 shares in the last quarter. Assenagon Asset Management S.A. grew its position in ACI Worldwide by 1,265.4% in the third quarter. Assenagon Asset Management S.A. now owns 758,064 shares of the technology company’s stock valued at $17,102,000 after acquiring an additional 702,546 shares during the last quarter. Finally, North Reef Capital Management LP raised its stake in ACI Worldwide by 26.3% during the third quarter. North Reef Capital Management LP now owns 2,845,000 shares of the technology company’s stock worth $64,183,000 after acquiring an additional 592,735 shares in the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.

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.