ACI Worldwide (NASDAQ:ACIW) Hits New 52-Week High – Here’s What Happened

ACI Worldwide, Inc. (NASDAQ:ACIW) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.04 and last traded at $55.62, with a volume of 1056686 shares traded. The stock had previously closed at $55.93.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ACIW. DA Davidson reissued a “buy” rating and issued a $60.00 price target on shares of ACI Worldwide in a report on Monday, May 11th. Wall Street Zen downgraded ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings raised ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Finally, Zacks Research upgraded ACI Worldwide from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

ACI Worldwide Stock Up 0.9%

The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 28.34 and a beta of 0.98. The stock has a 50 day moving average of $45.50 and a 200 day moving average of $43.70.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.16. The firm had revenue of $425.75 million for the quarter, compared to analysts’ expectations of $410.08 million. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.ACI Worldwide’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, analysts expect that ACI Worldwide, Inc. will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACI Worldwide

Several large investors have recently added to or reduced their stakes in ACIW. Allworth Financial LP increased its stake in ACI Worldwide by 93.5% during the third quarter. Allworth Financial LP now owns 532 shares of the technology company’s stock valued at $28,000 after purchasing an additional 257 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of ACI Worldwide by 226.8% in the 4th quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company’s stock worth $26,000 after buying an additional 372 shares during the last quarter. Essential Partners LLC lifted its position in shares of ACI Worldwide by 80.3% in the 1st quarter. Essential Partners LLC now owns 734 shares of the technology company’s stock worth $30,000 after buying an additional 327 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of ACI Worldwide in the 4th quarter valued at about $37,000. Finally, State of Wyoming acquired a new position in shares of ACI Worldwide in the 2nd quarter valued at about $37,000. 94.73% of the stock is currently owned by institutional investors.

About ACI Worldwide

ACI Worldwide (NASDAQ:ACIW) is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company’s platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI’s modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.