ACI Worldwide (NASDAQ:ACIW) Rating Lowered to “Neutral” at DA Davidson

DA Davidson lowered shares of ACI Worldwide (NASDAQ:ACIW) from a buy rating to a neutral rating in a research note issued to investors on Friday, MarketBeat reports. They currently have $60.00 price objective on the technology company’s stock, up from their prior price objective of $57.00.

ACIW has been the topic of a number of other research reports. Canaccord Genuity Group upped their price target on shares of ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. Stephens lowered shares of ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 18th. Finally, StockNews.com cut ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.50.

ACI Worldwide Price Performance

Shares of NASDAQ ACIW traded down $1.19 during mid-day trading on Friday, reaching $58.01. 1,332,141 shares of the company were exchanged, compared to its average volume of 652,019. ACI Worldwide has a 52 week low of $24.76 and a 52 week high of $59.60. The company’s 50 day moving average price is $50.31 and its 200 day moving average price is $43.40. The stock has a market capitalization of $6.07 billion, a PE ratio of 34.33 and a beta of 1.19. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.79.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.37. ACI Worldwide had a net margin of 12.01% and a return on equity of 19.18%. The firm had revenue of $451.75 million for the quarter, compared to analysts’ expectations of $404.80 million. Sell-side analysts forecast that ACI Worldwide will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Swedbank AB purchased a new position in shares of ACI Worldwide in the 1st quarter worth approximately $3,321,000. GSA Capital Partners LLP purchased a new position in ACI Worldwide during the 1st quarter valued at $846,000. CANADA LIFE ASSURANCE Co grew its stake in ACI Worldwide by 26.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 109,169 shares of the technology company’s stock worth $3,623,000 after acquiring an additional 22,992 shares in the last quarter. ClariVest Asset Management LLC grew its stake in ACI Worldwide by 140.3% in the first quarter. ClariVest Asset Management LLC now owns 62,112 shares of the technology company’s stock worth $2,063,000 after purchasing an additional 36,261 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. increased its holdings in ACI Worldwide by 9.3% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 2,112,828 shares of the technology company’s stock worth $70,167,000 after purchasing an additional 180,600 shares during the period. 94.74% of the stock is owned by hedge funds and other institutional investors.

About ACI Worldwide

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.