Norges Bank Invests $54.74 Million in ACI Worldwide, Inc. $ACIW

Norges Bank purchased a new stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,144,849 shares of the technology company’s stock, valued at approximately $54,735,000. Norges Bank owned about 1.11% of ACI Worldwide at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in ACI Worldwide by 166.7% in the third quarter. Envestnet Asset Management Inc. now owns 378,990 shares of the technology company’s stock worth $19,999,000 after buying an additional 236,878 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of ACI Worldwide by 39.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 249,533 shares of the technology company’s stock valued at $13,168,000 after buying an additional 69,964 shares during the last quarter. Jefferson Bridge Capital LLC bought a new position in shares of ACI Worldwide during the 4th quarter worth $1,176,000. Weitz Investment Management Inc. grew its stake in shares of ACI Worldwide by 19.9% during the 3rd quarter. Weitz Investment Management Inc. now owns 366,800 shares of the technology company’s stock worth $19,356,000 after acquiring an additional 60,800 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in ACI Worldwide by 159.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 781,468 shares of the technology company’s stock worth $37,362,000 after acquiring an additional 480,711 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

ACI Worldwide Stock Performance

NASDAQ:ACIW opened at $42.80 on Monday. The stock has a market cap of $4.35 billion, a P/E ratio of 21.51 and a beta of 1.00. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $42.51 and its two-hundred day moving average price is $43.46. ACI Worldwide, Inc. has a twelve month low of $38.05 and a twelve month high of $54.28.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.45 by $0.16. The company had revenue of $425.75 million during the quarter, compared to analyst estimates of $410.08 million. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.ACI Worldwide’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, equities analysts predict that ACI Worldwide, Inc. will post 2.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings downgraded shares of ACI Worldwide from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Wall Street Zen raised shares of ACI Worldwide from a “hold” rating to a “buy” rating in a research report on Saturday. DA Davidson restated a “buy” rating and set a $60.00 price target on shares of ACI Worldwide in a research note on Monday, May 11th. Finally, Zacks Research raised shares of ACI Worldwide from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

About ACI Worldwide

ACI Worldwide (NASDAQ:ACIW) is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company’s platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI’s modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.