ACI Worldwide’s (ACIW) Buy Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of ACI Worldwide (NASDAQ:ACIW) in a report published on Wednesday,Benzinga reports. The firm currently has a $66.00 price target on the technology company’s stock.

A number of other equities analysts have also recently commented on ACIW. Zacks Research upgraded ACI Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Finally, Wall Street Zen cut shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $66.00.

ACI Worldwide Trading Up 0.1%

Shares of NASDAQ ACIW opened at $52.95 on Wednesday. ACI Worldwide has a twelve month low of $38.05 and a twelve month high of $61.08. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $54.69 and a 200-day simple moving average of $46.62. The stock has a market capitalization of $5.35 billion, a PE ratio of 24.29 and a beta of 0.98.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of ACI Worldwide during the second quarter worth about $823,821,000. California State Teachers Retirement System boosted its holdings in shares of ACI Worldwide by 4,604.8% in the 2nd quarter. California State Teachers Retirement System now owns 5,775,605 shares of the technology company’s stock valued at $290,455,000 after buying an additional 5,652,845 shares in the last quarter. Millennium Management LLC grew its holdings in shares of ACI Worldwide by 879.8% during the third quarter. Millennium Management LLC now owns 1,430,404 shares of the technology company’s stock worth $75,482,000 after purchasing an additional 1,284,419 shares during the last quarter. Norges Bank acquired a new stake in shares of ACI Worldwide in the 4th quarter valued at about $54,735,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of ACI Worldwide in the 2nd quarter valued at about $50,622,000. 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.