Portside Wealth Group LLC Purchases New Shares in ACI Worldwide, Inc. (NASDAQ:ACIW)

Portside Wealth Group LLC acquired a new stake in ACI Worldwide, Inc. (NASDAQ:ACIW) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,940 shares of the technology company’s stock, valued at approximately $308,000.

A number of other institutional investors have also recently bought and sold shares of ACIW. Janney Montgomery Scott LLC grew its stake in ACI Worldwide by 56.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,218 shares of the technology company’s stock valued at $946,000 after purchasing an additional 6,602 shares during the period. Blue Trust Inc. grew its stake in ACI Worldwide by 104.9% in the 4th 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 period. Caprock Group LLC grew its stake in ACI Worldwide by 64.6% in the 4th quarter. Caprock Group LLC now owns 8,380 shares of the technology company’s stock valued at $435,000 after purchasing an additional 3,288 shares during the period. Choreo LLC grew its stake in ACI Worldwide by 125.7% in the 4th quarter. Choreo LLC now owns 14,462 shares of the technology company’s stock valued at $745,000 after purchasing an additional 8,054 shares during the period. Finally, Meritage Portfolio Management grew its stake in ACI Worldwide by 7.4% in the 4th quarter. Meritage Portfolio Management now owns 18,514 shares of the technology company’s stock valued at $961,000 after purchasing an additional 1,268 shares during the period. Institutional investors own 94.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group reduced their price objective on ACI Worldwide from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, May 27th. Wall Street Zen upgraded ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Finally, DA Davidson upgraded ACI Worldwide from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

ACI Worldwide Stock Up 0.8%

ACIW stock opened at $46.97 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 22.26 and a beta of 1.14. ACI Worldwide, Inc. has a fifty-two week low of $33.32 and a fifty-two week high of $59.71. The stock has a fifty day moving average of $50.25 and a 200-day moving average of $52.42.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.18. The company had revenue of $394.57 million during the quarter, compared to the consensus estimate of $364.36 million. ACI Worldwide had a return on equity of 21.67% and a net margin of 14.04%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, equities research analysts predict that ACI Worldwide, Inc. will post 2 earnings per share for the current year.

Insider Transactions at ACI Worldwide

In related news, CEO Thomas W. Warsop III acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $48.57 per share, with a total value of $242,850.00. Following the acquisition, the chief executive officer now owns 326,922 shares of the company’s stock, valued at approximately $15,878,601.54. This trade represents a 1.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

About ACI Worldwide

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.