ACI Worldwide (ACIW) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of ACI Worldwide (NASDAQ:ACIW) from a buy rating to a hold rating in a research report released on Wednesday morning.

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. “

Several other research analysts also recently issued reports on ACIW. BidaskClub downgraded ACI Worldwide from a strong-buy rating to a buy rating in a research report on Wednesday, October 3rd. Credit Suisse Group boosted their price target on ACI Worldwide from $25.00 to $27.00 and gave the company a neutral rating in a report on Wednesday, September 12th. Stephens downgraded ACI Worldwide from an overweight rating to an equal rating and cut their price target for the company from $33.00 to $30.00 in a report on Thursday, January 3rd. Finally, TheStreet upgraded ACI Worldwide from a c+ rating to a b- rating in a report on Thursday, December 6th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $29.33.

Shares of ACI Worldwide stock opened at $28.14 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.66. ACI Worldwide has a 1 year low of $20.23 and a 1 year high of $30.25. The company has a market cap of $3.22 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.17 and a beta of 1.16.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings data on Thursday, November 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.19. ACI Worldwide had a return on equity of 7.42% and a net margin of 1.42%. The firm had revenue of $245.50 million during the quarter, compared to the consensus estimate of $232.31 million. During the same period in the previous year, the firm posted ($0.08) EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts forecast that ACI Worldwide will post 0.87 EPS for the current fiscal year.

In other ACI Worldwide news, CEO Philip G. Heasley sold 100,000 shares of the business’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $29.79, for a total value of $2,979,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,302,228 shares in the company, valued at approximately $38,793,372.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.42% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ACIW. BlackRock Inc. grew its stake in shares of ACI Worldwide by 4.9% during the 2nd quarter. BlackRock Inc. now owns 13,041,124 shares of the technology company’s stock valued at $321,724,000 after buying an additional 610,052 shares during the period. Janus Henderson Group PLC grew its stake in shares of ACI Worldwide by 22.0% during the 3rd quarter. Janus Henderson Group PLC now owns 2,382,590 shares of the technology company’s stock valued at $67,046,000 after buying an additional 430,312 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of ACI Worldwide by 13.9% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,510,262 shares of the technology company’s stock valued at $70,639,000 after buying an additional 307,240 shares during the period. Global Alpha Capital Management Ltd. grew its stake in shares of ACI Worldwide by 37.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 928,994 shares of the technology company’s stock valued at $26,142,000 after buying an additional 253,900 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of ACI Worldwide during the 2nd quarter valued at $5,518,000.

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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