DA Davidson Upgrades ACI Worldwide (NASDAQ:ACIW) to Buy

ACI Worldwide (NASDAQ:ACIW) was upgraded by equities researchers at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Monday,Benzinga reports. The brokerage currently has a $60.00 target price on the technology company’s stock. DA Davidson’s price objective would suggest a potential upside of 29.03% from the stock’s current price.

ACI Worldwide Stock Down 4.0%

Shares of NASDAQ ACIW opened at $46.50 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72. ACI Worldwide has a 52 week low of $33.32 and a 52 week high of $59.71. The firm has a 50-day moving average price of $52.57 and a 200 day moving average price of $53.19. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 22.04 and a beta of 1.14.

ACI Worldwide (NASDAQ:ACIW) last posted its earnings results on Thursday, May 8th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.18. ACI Worldwide had a net margin of 14.04% and a return on equity of 21.67%. The firm had revenue of $394.57 million during the quarter, compared to the consensus estimate of $364.36 million. During the same period last year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts anticipate that ACI Worldwide will post 2 EPS for the current fiscal year.

Insider Transactions at ACI Worldwide

In related news, Director Charles E. Peters, Jr. sold 12,940 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $57.57, for a total value of $744,955.80. Following the sale, the director now directly owns 80,842 shares of the company’s stock, valued at approximately $4,654,073.94. This trade represents a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new stake in ACI Worldwide during the first quarter valued at $25,000. N.E.W. Advisory Services LLC bought a new stake in ACI Worldwide during the first quarter valued at $25,000. Blue Trust Inc. increased its stake in ACI Worldwide by 104.9% during the fourth quarter. Blue Trust Inc. now owns 582 shares of the technology company’s stock valued at $30,000 after purchasing an additional 298 shares during the last quarter. Covestor Ltd increased its stake in ACI Worldwide by 239.4% during the fourth quarter. Covestor Ltd now owns 594 shares of the technology company’s stock valued at $31,000 after purchasing an additional 419 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in ACI Worldwide during the first quarter valued at $39,000. 94.74% of the stock is owned by institutional investors and hedge funds.

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.