ACI Worldwide (NASDAQ:ACIW) Price Target Raised to $64.00

ACI Worldwide (NASDAQ:ACIW) had its price target boosted by DA Davidson from $60.00 to $64.00 in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Zacks Research raised ACI Worldwide from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ACI Worldwide currently has an average rating of “Hold” and a consensus target price of $64.00.

ACI Worldwide Trading Down 1.0%

Shares of ACIW opened at $58.07 on Wednesday. ACI Worldwide has a 1-year low of $38.05 and a 1-year high of $60.17. The company has a market capitalization of $5.90 billion, a P/E ratio of 29.18 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.53 and a quick ratio of 1.53. The firm’s 50 day simple moving average is $47.01 and its 200 day simple moving average is $44.06.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.16. The business had revenue of $425.75 million during the quarter, compared to analysts’ expectations of $410.08 million. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. Sell-side analysts forecast that ACI Worldwide will post 2.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ACI Worldwide

A number of hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted its stake in shares of ACI Worldwide by 93.5% in the 3rd quarter. Allworth Financial LP now owns 532 shares of the technology company’s stock valued at $28,000 after purchasing an additional 257 shares in the last quarter. Farther Finance Advisors LLC raised its position in ACI Worldwide by 226.8% in the 4th quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company’s stock worth $26,000 after purchasing an additional 372 shares during the period. Essential Partners LLC lifted its stake in ACI Worldwide by 80.3% in the first quarter. Essential Partners LLC now owns 734 shares of the technology company’s stock worth $30,000 after purchasing an additional 327 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in ACI Worldwide in the fourth quarter worth $37,000. Finally, State of Wyoming purchased a new stake in ACI Worldwide during the second quarter valued at about $37,000. 94.73% of the stock is currently owned by institutional investors.

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.