Maryland State Retirement & Pension System Acquires New Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Maryland State Retirement & Pension System bought a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 39,515 shares of the technology company’s stock, valued at approximately $1,209,000.

Other large investors have also modified their holdings of the company. Covestor Ltd grew its holdings in ACI Worldwide by 136.6% during the third quarter. Covestor Ltd now owns 1,417 shares of the technology company’s stock worth $32,000 after acquiring an additional 818 shares during the period. Strs Ohio boosted its holdings in ACI Worldwide by 142.9% during the third quarter. Strs Ohio now owns 1,700 shares of the technology company’s stock worth $38,000 after buying an additional 1,000 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in ACI Worldwide by 3.8% in the third quarter. SkyView Investment Advisors LLC now owns 11,998 shares of the technology company’s stock valued at $271,000 after buying an additional 444 shares in the last quarter. Assetmark Inc. lifted its position in shares of ACI Worldwide by 18.2% during the 3rd quarter. Assetmark Inc. now owns 12,238 shares of the technology company’s stock valued at $276,000 after acquiring an additional 1,885 shares during the period. Finally, Watershed Asset Management L.L.C. purchased a new stake in shares of ACI Worldwide during the 4th quarter worth approximately $296,000. 94.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACIW. Jefferies Financial Group initiated coverage on ACI Worldwide in a report on Friday, March 8th. They set a “buy” rating and a $38.00 price objective for the company. Craig Hallum lifted their price target on ACI Worldwide from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Canaccord Genuity Group restated a “buy” rating and set a $40.00 target price on shares of ACI Worldwide in a report on Friday, March 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of ACI Worldwide in a report on Wednesday, May 1st. Finally, DA Davidson lifted their price objective on ACI Worldwide from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

ACI Worldwide Price Performance

ACI Worldwide stock opened at $35.89 on Thursday. ACI Worldwide, Inc. has a 12-month low of $19.56 and a 12-month high of $36.37. The firm’s 50-day moving average is $32.69 and its two-hundred day moving average is $29.74. The stock has a market capitalization of $3.81 billion, a P/E ratio of 26.78 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.37 and a quick ratio of 1.37.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.10 by $0.17. The company had revenue of $477.00 million during the quarter, compared to analysts’ expectations of $476.43 million. ACI Worldwide had a return on equity of 17.31% and a net margin of 9.88%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. Equities analysts predict that ACI Worldwide, Inc. will post 1.9 earnings per share for the current year.

ACI Worldwide 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.