Envestnet Asset Management Inc. Increases Position in ACI Worldwide, Inc. (ACIW)
Envestnet Asset Management Inc. increased its position in ACI Worldwide, Inc. (NASDAQ:ACIW) by 12.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,626 shares of the technology company’s stock after buying an additional 2,545 shares during the period. Envestnet Asset Management Inc.’s holdings in ACI Worldwide were worth $483,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ACIW. Russell Investments Group Ltd. bought a new stake in shares of ACI Worldwide during the fourth quarter worth approximately $9,383,000. Comerica Bank raised its stake in shares of ACI Worldwide by 6.0% in the fourth quarter. Comerica Bank now owns 86,567 shares of the technology company’s stock worth $1,653,000 after buying an additional 4,937 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ACI Worldwide by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,697,951 shares of the technology company’s stock worth $48,969,000 after buying an additional 40,778 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of ACI Worldwide by 15.9% in the fourth quarter. Brown Advisory Inc. now owns 14,166 shares of the technology company’s stock worth $257,000 after buying an additional 1,941 shares in the last quarter. Finally, Menta Capital LLC bought a new stake in shares of ACI Worldwide during the fourth quarter worth approximately $289,000. 99.96% of the stock is owned by hedge funds and other institutional investors.
ACI Worldwide, Inc. (NASDAQ ACIW) opened at 22.53 on Tuesday. The stock has a 50 day moving average price of $22.87 and a 200-day moving average price of $20.84. The stock has a market cap of $2.66 billion, a P/E ratio of 68.07 and a beta of 1.38. ACI Worldwide, Inc. has a 52 week low of $15.11 and a 52 week high of $23.97.
ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.11. ACI Worldwide had a net margin of 3.80% and a return on equity of 7.34%. The business had revenue of $231.50 million for the quarter, compared to analysts’ expectations of $217.24 million. During the same quarter last year, the company posted ($0.01) EPS. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that ACI Worldwide, Inc. will post $0.47 EPS for the current fiscal year.
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ACIW has been the subject of a number of recent research reports. Raymond James Financial, Inc. raised ACI Worldwide from an “underperform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Thursday, March 2nd. Avondale Partners downgraded ACI Worldwide from a “market outperform” rating to a “market perform” rating in a research note on Friday, March 3rd. Zacks Investment Research downgraded ACI Worldwide from a “hold” rating to a “sell” rating in a research note on Monday, March 6th. TheStreet upgraded ACI Worldwide from a “c+” rating to a “b” rating in a research note on Thursday, March 16th. Finally, ValuEngine upgraded ACI Worldwide from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.33.
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. Its 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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