ACI Worldwide (NASDAQ:ACIW) Hits New 12-Month High – What’s Next?

ACI Worldwide, Inc. (NASDAQ:ACIW)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $60.38 and last traded at $59.8350, with a volume of 184549 shares changing hands. The stock had previously closed at $57.88.

Analysts Set New Price Targets

Several brokerages have recently commented on ACIW. Zacks Research raised ACI Worldwide from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. DA Davidson raised their price objective on ACI Worldwide from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Wall Street Zen raised ACI Worldwide from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Weiss Ratings upgraded ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.00.

ACI Worldwide Stock Down 3.5%

The company has a market cap of $5.90 billion, a PE ratio of 29.18 and a beta of 0.98. 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 firm’s fifty day simple moving average is $49.42 and its 200-day simple moving average is $44.61.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.45 by $0.16. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. The business had revenue of $425.75 million for the quarter, compared to analyst estimates of $410.08 million. During the same period in the prior year, the business earned $0.51 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts expect that ACI Worldwide, Inc. will post 2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACI Worldwide

A number of institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its position in ACI Worldwide by 160.4% during the 1st quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock worth $8,634,000 after purchasing an additional 97,206 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of ACI Worldwide by 93.4% during the first quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock worth $81,000 after buying an additional 711 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of ACI Worldwide during the first quarter worth about $259,000. Empowered Funds LLC raised its position in shares of ACI Worldwide by 64.2% in the first quarter. Empowered Funds LLC now owns 16,362 shares of the technology company’s stock valued at $895,000 after buying an additional 6,399 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of ACI Worldwide by 13.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 407,332 shares of the technology company’s stock valued at $22,285,000 after buying an additional 48,988 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

ACI Worldwide Company Profile

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.