ACI Worldwide (NASDAQ:ACIW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,000 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries as well as 300 of the leading global retailers rely on ACI to execute $14 trillion each day in payments. In addition, thousands of organizations utilize our electronic bill presentment and payment services. Through their comprehensive suite of software and SaaS-based solutions, they deliver real-time, any-to-any payments capabilities and enable the industry’s most complete omni-channel payments experience. “
A number of other brokerages have also recently issued reports on ACIW. BidaskClub raised ACI Worldwide from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. ValuEngine raised ACI Worldwide from a “hold” rating to a “buy” rating in a report on Friday, June 15th. Finally, TheStreet raised ACI Worldwide from a “c+” rating to a “b” rating in a report on Monday, March 12th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. ACI Worldwide presently has an average rating of “Buy” and an average target price of $27.00.
Shares of ACIW stock traded up $0.43 on Thursday, hitting $24.68. 104,806 shares of the company’s stock were exchanged, compared to its average volume of 622,436. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.67. ACI Worldwide has a 12 month low of $20.23 and a 12 month high of $27.16. The company has a market cap of $2.93 billion, a P/E ratio of 24.20, a P/E/G ratio of 3.56 and a beta of 1.16.
ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings data on Thursday, May 10th. The technology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06). ACI Worldwide had a positive return on equity of 8.61% and a negative net margin of 1.27%. The business had revenue of $209.30 million for the quarter, compared to the consensus estimate of $206.17 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. ACI Worldwide’s quarterly revenue was down 9.6% compared to the same quarter last year. equities research analysts anticipate that ACI Worldwide will post 0.59 earnings per share for the current fiscal year.
In other ACI Worldwide news, Director Jan Suwinski sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $24.19, for a total value of $725,700.00. Following the completion of the transaction, the director now owns 166,896 shares of the company’s stock, valued at approximately $4,037,214.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 180,000 shares of company stock valued at $4,431,600. Insiders own 4.42% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC acquired a new stake in shares of ACI Worldwide in the first quarter valued at about $210,000. Psagot Investment House Ltd. acquired a new stake in shares of ACI Worldwide in the first quarter valued at about $211,000. Xact Kapitalforvaltning AB acquired a new stake in shares of ACI Worldwide in the fourth quarter valued at about $261,000. Meadow Creek Investment Management LLC increased its stake in shares of ACI Worldwide by 32.7% in the fourth quarter. Meadow Creek Investment Management LLC now owns 14,784 shares of the technology company’s stock valued at $335,000 after buying an additional 3,640 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of ACI Worldwide in the fourth quarter valued at about $338,000.
About ACI Worldwide
ACI Worldwide, Inc provides software products and services for facilitating electronic payments to banks, intermediaries, merchants, and corporates worldwide. It offers UP Retail Payments solution that enables banks to accept, authorize, route, and secure payment transactions; and ACI Card and Merchant Management solutions, including credit, debit, smart card, and prepaid card issuance and management, as well as merchant account management and settlement.
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