DA Davidson Reaffirms Buy Rating for ACI Worldwide (NASDAQ:ACIW)

ACI Worldwide (NASDAQ:ACIW)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a report released on Wednesday, Benzinga reports. They currently have a $66.00 price target on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 25.97% from the company’s previous close.

Several other equities research analysts have also issued reports on ACIW. Wall Street Zen lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Finally, Zacks Research raised ACI Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $66.00.

ACI Worldwide Stock Performance

Shares of NASDAQ:ACIW traded up $1.16 during trading on Wednesday, hitting $52.39. The company’s stock had a trading volume of 168,262 shares, compared to its average volume of 887,679. ACI Worldwide has a 12 month low of $38.05 and a 12 month high of $61.08. The company has a 50-day moving average of $54.37 and a 200-day moving average of $46.39. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 24.03 and a beta of 0.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.58.

Institutional Trading of ACI Worldwide

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its position in ACI Worldwide by 8.2% in the first quarter. Pacer Advisors Inc. now owns 3,019 shares of the technology company’s stock worth $124,000 after buying an additional 230 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in ACI Worldwide by 13.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,096 shares of the technology company’s stock valued at $96,000 after buying an additional 249 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of ACI Worldwide by 93.5% during the third quarter. Allworth Financial LP now owns 532 shares of the technology company’s stock worth $28,000 after purchasing an additional 257 shares during the period. ProShare Advisors LLC lifted its stake in ACI Worldwide by 1.4% in the fourth quarter. ProShare Advisors LLC now owns 20,107 shares of the technology company’s stock valued at $961,000 after acquiring an additional 268 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in ACI Worldwide by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,559 shares of the technology company’s stock valued at $1,126,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.