Craig Hallum Increases ACI Worldwide (NASDAQ:ACIW) Price Target to $40.00

ACI Worldwide (NASDAQ:ACIW) had its target price lifted by Craig Hallum from $38.00 to $40.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Craig Hallum currently has a buy rating on the technology company’s stock.

ACIW has been the subject of several other research reports. Jefferies Financial Group initiated coverage on ACI Worldwide in a research note on Friday, March 8th. They set a buy rating and a $38.00 price target for the company. TheStreet raised shares of ACI Worldwide from a c rating to a b- rating in a research report on Thursday, January 4th. DA Davidson reiterated a buy rating and issued a $39.00 price objective on shares of ACI Worldwide in a research note on Thursday, March 14th. Canaccord Genuity Group restated a buy rating and set a $40.00 target price on shares of ACI Worldwide in a research report on Friday, March 15th. Finally, Needham & Company LLC reiterated a hold rating on shares of ACI Worldwide in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ACI Worldwide presently has an average rating of Moderate Buy and an average target price of $40.00.

ACI Worldwide Stock Performance

NASDAQ ACIW opened at $35.12 on Wednesday. The company has a market capitalization of $3.73 billion, a PE ratio of 26.21 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.36 and a current ratio of 1.37. ACI Worldwide has a 52-week low of $19.56 and a 52-week high of $36.37. The company has a 50-day simple moving average of $32.41 and a 200 day simple moving average of $29.44.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. ACI Worldwide had a net margin of 9.88% and a return on equity of 17.31%. The company had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $476.43 million. During the same quarter in the previous year, the firm posted $0.95 EPS. ACI Worldwide’s revenue was up 5.6% on a year-over-year basis. On average, research analysts predict that ACI Worldwide will post 1.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in ACI Worldwide by 812.5% during the third quarter. SG Americas Securities LLC now owns 39,859 shares of the technology company’s stock worth $899,000 after buying an additional 35,491 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of ACI Worldwide by 28.5% in the third quarter. Handelsbanken Fonder AB now owns 21,334 shares of the technology company’s stock worth $481,000 after purchasing an additional 4,737 shares during the last quarter. Woodmont Investment Counsel LLC raised its stake in ACI Worldwide by 15.9% in the third quarter. Woodmont Investment Counsel LLC now owns 101,727 shares of the technology company’s stock valued at $2,295,000 after purchasing an additional 13,979 shares in the last quarter. Reinhart Partners LLC. lifted its position in ACI Worldwide by 5.8% during the third quarter. Reinhart Partners LLC. now owns 2,062,364 shares of the technology company’s stock valued at $46,527,000 after purchasing an additional 112,871 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ACI Worldwide by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,701 shares of the technology company’s stock worth $444,000 after buying an additional 2,598 shares in the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

About ACI Worldwide

ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments in the United States and internationally. The company operates in three segments: Banks, Merchants, and Billers. The company offers ACI Acquiring, a solution to process credit, debit, and prepaid card transactions, deliver digital innovation, and fraud prevention; ACI Issuing, a digital payment issuing solution for new payment offering; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.