Navellier & Associates Inc. Invests $272,000 in ACI Worldwide, Inc. (NASDAQ:ACIW)

Navellier & Associates Inc. bought a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,234 shares of the technology company’s stock, valued at approximately $272,000.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of ACI Worldwide by 1.3% in the third quarter. State Street Corp now owns 4,455,864 shares of the technology company’s stock valued at $226,803,000 after purchasing an additional 56,919 shares in the last quarter. Geode Capital Management LLC boosted its stake in ACI Worldwide by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,502,628 shares of the technology company’s stock worth $127,407,000 after purchasing an additional 31,561 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in ACI Worldwide by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,389,734 shares of the technology company’s stock worth $70,737,000 after purchasing an additional 33,408 shares during the period. Congress Asset Management Co. acquired a new stake in ACI Worldwide during the 4th quarter worth $55,998,000. Finally, Principal Financial Group Inc. raised its position in ACI Worldwide by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 545,506 shares of the technology company’s stock worth $28,317,000 after buying an additional 20,893 shares during the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson downgraded shares of ACI Worldwide from a “buy” rating to a “neutral” rating and increased their price target for the company from $57.00 to $60.00 in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, ACI Worldwide has an average rating of “Hold” and an average price target of $49.50.

ACI Worldwide Trading Down 2.2 %

Shares of NASDAQ ACIW opened at $50.56 on Monday. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 23.96 and a beta of 1.20. The business has a 50 day simple moving average of $52.80 and a 200 day simple moving average of $51.88. ACI Worldwide, Inc. has a 52 week low of $30.02 and a 52 week high of $59.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.56 and a current ratio of 1.56.

Insider Activity at ACI Worldwide

In related news, CTO Abraham Kuruvilla sold 5,400 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $55.71, for a total value of $300,834.00. Following the transaction, the chief technology officer now owns 81,107 shares in the company, valued at $4,518,470.97. This trade represents a 6.24 % 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. 1.00% of the stock is currently owned by corporate insiders.

ACI Worldwide 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.