ACI Worldwide Inc. (ACIW) Sees Large Volume Increase
ACI Worldwide Inc. (NASDAQ:ACIW) saw unusually-high trading volume on Thursday . Approximately 1,070,615 shares traded hands during mid-day trading, an increase of 150% from the previous session’s volume of 429,035 shares.The stock last traded at $19.85 and had previously closed at $19.63.
ACIW has been the topic of a number of analyst reports. Monness Crespi & Hardt initiated coverage on shares of ACI Worldwide in a report on Wednesday, June 15th. They set a “buy” rating and a $26.00 target price on the stock. Zacks Investment Research raised shares of ACI Worldwide from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Friday, May 6th.
The company has a market cap of $2.31 billion and a PE ratio of 13.55. The company has a 50-day moving average price of $19.90 and a 200 day moving average price of $19.55.
ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.06. The firm had revenue of $219.90 million for the quarter, compared to analysts’ expectations of $221.17 million. The firm’s revenue was down 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities research analysts expect that ACI Worldwide Inc. will post $0.59 earnings per share for the current fiscal year.
In related news, CEO Philip G. Heasley sold 73,864 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $20.28, for a total value of $1,497,961.92. Following the transaction, the chief executive officer now owns 1,415,359 shares of the company’s stock, valued at $28,703,480.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas W. Warsop III sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $20.83, for a total transaction of $93,735.00. Following the completion of the transaction, the director now directly owns 10,742 shares in the company, valued at approximately $223,755.86. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of the company. Rhumbline Advisers increased its position in ACI Worldwide by 3.0% in the fourth quarter. Rhumbline Advisers now owns 234,246 shares of the company’s stock worth $5,013,000 after buying an additional 6,755 shares during the last quarter. GSA Capital Partners LLP increased its position in ACI Worldwide by 66.6% in the fourth quarter. GSA Capital Partners LLP now owns 63,537 shares of the company’s stock worth $1,360,000 after buying an additional 25,402 shares during the last quarter. Bank of Montreal Can increased its position in ACI Worldwide by 4,783.9% in the fourth quarter. Bank of Montreal Can now owns 207,957 shares of the company’s stock worth $4,449,000 after buying an additional 203,699 shares during the last quarter. Principal Financial Group Inc. increased its position in ACI Worldwide by 5.5% in the fourth quarter. Principal Financial Group Inc. now owns 380,492 shares of the company’s stock worth $8,142,000 after buying an additional 19,776 shares during the last quarter. Finally, Fiduciary Management Associates LLC increased its position in ACI Worldwide by 7.6% in the fourth quarter. Fiduciary Management Associates LLC now owns 1,105,696 shares of the company’s stock worth $23,662,000 after buying an additional 78,155 shares during the last quarter.
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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