ACI Worldwide (NASDAQ:ACIW) Reaches New 12-Month High – Here’s What Happened

Shares of ACI Worldwide, Inc. (NASDAQ:ACIW) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.71 and last traded at $59.49, with a volume of 45203 shares traded. The stock had previously closed at $58.64.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ACI Worldwide in a research note on Friday, August 2nd. Canaccord Genuity Group boosted their price target on shares of ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. DA Davidson lowered shares of ACI Worldwide from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $57.00 to $60.00 in a report on Friday, November 8th. StockNews.com lowered ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Stephens lowered ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, ACI Worldwide currently has an average rating of “Hold” and a consensus price target of $49.50.

ACI Worldwide Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 27.16 and a beta of 1.19. The company’s 50 day simple moving average is $51.99 and its 200 day simple moving average is $45.19.

Insider Transactions at ACI Worldwide

In related news, Director Adalio T. Sanchez sold 1,200 shares of ACI Worldwide stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $57.28, for a total transaction of $68,736.00. Following the sale, the director now directly owns 43,272 shares in the company, valued at $2,478,620.16. This trade represents a 2.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of ACI Worldwide

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC increased its position in ACI Worldwide by 44.9% during the second quarter. Hood River Capital Management LLC now owns 2,400,340 shares of the technology company’s stock worth $95,029,000 after buying an additional 743,595 shares during the period. Assenagon Asset Management S.A. raised its position in ACI Worldwide by 144.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 482,740 shares of the technology company’s stock valued at $24,571,000 after purchasing an additional 285,001 shares during the last quarter. Swedbank AB grew its position in ACI Worldwide by 228.6% during the 2nd quarter. Swedbank AB now owns 328,600 shares of the technology company’s stock worth $13,009,000 after purchasing an additional 228,600 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of ACI Worldwide in the second quarter valued at about $7,696,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of ACI Worldwide during the second quarter worth about $7,353,000. Institutional investors and hedge funds own 94.74% of the company’s stock.

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.