Granite Investment Partners LLC Raises Position in ACI Worldwide Inc (ACIW)
Granite Investment Partners LLC lifted its stake in ACI Worldwide Inc (NASDAQ:ACIW) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,105 shares of the technology company’s stock after purchasing an additional 2,909 shares during the period. Granite Investment Partners LLC’s holdings in ACI Worldwide were worth $819,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of ACI Worldwide by 70.0% during the first quarter. Royal Bank of Canada now owns 87,341 shares of the technology company’s stock worth $2,072,000 after purchasing an additional 35,957 shares during the period. Bank of Montreal Can acquired a new position in ACI Worldwide in the second quarter valued at approximately $3,892,000. Amalgamated Bank lifted its holdings in ACI Worldwide by 11.4% in the second quarter. Amalgamated Bank now owns 18,665 shares of the technology company’s stock valued at $460,000 after acquiring an additional 1,904 shares during the period. Nisa Investment Advisors LLC acquired a new position in ACI Worldwide in the second quarter valued at approximately $2,028,000. Finally, Bessemer Group Inc. lifted its holdings in ACI Worldwide by 17.5% in the second quarter. Bessemer Group Inc. now owns 28,900 shares of the technology company’s stock valued at $713,000 after acquiring an additional 4,300 shares during the period.
A number of brokerages have issued reports on ACIW. Zacks Investment Research raised ACI Worldwide from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a report on Wednesday, November 14th. BidaskClub downgraded ACI Worldwide from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 3rd. Finally, Credit Suisse Group boosted their price target on ACI Worldwide from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, September 12th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $30.00.
Shares of NASDAQ:ACIW opened at $27.90 on Wednesday. ACI Worldwide Inc has a 12-month low of $20.23 and a 12-month high of $30.25. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 49.96, a P/E/G ratio of 2.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.66.
ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings results on Thursday, November 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.19. ACI Worldwide had a return on equity of 7.42% and a net margin of 1.42%. The company had revenue of $245.50 million during the quarter, compared to the consensus estimate of $232.31 million. During the same period in the previous year, the company posted ($0.08) earnings per share. ACI Worldwide’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that ACI Worldwide Inc will post 0.87 EPS for the current year.
ACI Worldwide Profile
ACI Worldwide, Inc provides software products and services for facilitating electronic payments to banks, intermediaries, merchants, and corporates worldwide. It offers UP Retail Payments solution that enables banks to accept, authorize, route, and secure payment transactions; and ACI Card and Merchant Management solutions, including credit, debit, smart card, and prepaid card issuance and management, as well as merchant account management and settlement.
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