Granite Investment Partners LLC Invests $1,319,000 in ACI Worldwide Inc. (ACIW)
Granite Investment Partners LLC purchased a new stake in ACI Worldwide Inc. (NASDAQ:ACIW) during the third quarter, Holdings Channel reports. The fund purchased 68,054 shares of the company’s stock, valued at approximately $1,319,000. Granite Investment Partners LLC owned 0.06% of ACI Worldwide at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ACIW. LS Investment Advisors LLC boosted its stake in shares of ACI Worldwide by 68.7% in the second quarter. LS Investment Advisors LLC now owns 6,999 shares of the company’s stock valued at $137,000 after buying an additional 2,849 shares during the period. Neuberger Berman Group LLC acquired a new stake in shares of ACI Worldwide during the second quarter valued at approximately $208,000. Penserra Capital Management LLC boosted its stake in shares of ACI Worldwide by 15.1% in the second quarter. Penserra Capital Management LLC now owns 10,864 shares of the company’s stock valued at $212,000 after buying an additional 1,423 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of ACI Worldwide by 7,662.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,256 shares of the company’s stock valued at $219,000 after buying an additional 11,111 shares during the period. Finally, Strs Ohio boosted its stake in shares of ACI Worldwide by 6.8% in the second quarter. Strs Ohio now owns 12,500 shares of the company’s stock valued at $243,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 99.93% of the company’s stock.
Shares of ACI Worldwide Inc. (NASDAQ:ACIW) traded down 1.00% during trading on Tuesday, hitting $18.72. The company’s 50 day moving average is $18.73 and its 200-day moving average is $19.27. ACI Worldwide Inc. has a 52-week low of $15.07 and a 52-week high of $23.69. The firm has a market capitalization of $2.20 billion, a P/E ratio of 20.82 and a beta of 1.49.
ACI Worldwide (NASDAQ:ACIW) last announced its earnings results on Thursday, November 3rd. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.16 by $0.20. The business had revenue of $217 million for the quarter, compared to the consensus estimate of $246.61 million. ACI Worldwide had a return on equity of 4.27% and a net margin of 10.97%. ACI Worldwide’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 EPS. On average, analysts anticipate that ACI Worldwide Inc. will post $0.43 EPS for the current year.
ACIW has been the topic of several recent analyst reports. Monness Crespi & Hardt cut their price objective on ACI Worldwide from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Zacks Investment Research upgraded ACI Worldwide from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Monday, August 1st. Finally, Stephens upgraded ACI Worldwide from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. ACI Worldwide currently has a consensus rating of “Hold” and a consensus target price of $23.25.
In related news, CFO Scott W. Behrens sold 35,555 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $19.22, for a total value of $683,367.10. Following the transaction, the chief financial officer now owns 271,554 shares in the company, valued at $5,219,267.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.10% of the company’s stock.
ACI Worldwide Company Profile
ACI Worldwide, Inc develops, markets, installs and supports a line of software products and services primarily focused on facilitating electronic payments. The Company also distributes or acts as a sales agent for software developed by third parties. These products and services are used principally by financial institutions, retailers, billers and electronic payment processors, both in domestic and international markets.
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