Victory Capital Management Inc. Sells 130,439 Shares of ACI Worldwide, Inc. $ACIW

Victory Capital Management Inc. cut its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 19.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 555,076 shares of the technology company’s stock after selling 130,439 shares during the quarter. Victory Capital Management Inc. owned about 0.54% of ACI Worldwide worth $29,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its position in shares of ACI Worldwide by 106.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 627 shares of the technology company’s stock valued at $29,000 after buying an additional 323 shares during the period. Bessemer Group Inc. boosted its position in shares of ACI Worldwide by 51.9% in the third quarter. Bessemer Group Inc. now owns 626 shares of the technology company’s stock valued at $32,000 after acquiring an additional 214 shares during the period. Advisors Asset Management Inc. grew its stake in ACI Worldwide by 68.5% during the second quarter. Advisors Asset Management Inc. now owns 733 shares of the technology company’s stock valued at $34,000 after acquiring an additional 298 shares in the last quarter. State of Wyoming purchased a new position in ACI Worldwide during the second quarter valued at approximately $37,000. Finally, Salomon & Ludwin LLC bought a new stake in ACI Worldwide during the 3rd quarter worth approximately $39,000. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of ACI Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Insider Buying and Selling at ACI Worldwide

In other news, Director Adalio T. Sanchez bought 3,000 shares of ACI Worldwide stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of $40.98 per share, with a total value of $122,940.00. Following the completion of the purchase, the director directly owned 64,378 shares in the company, valued at $2,638,210.44. The trade was a 4.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Juan Benitez II purchased 2,400 shares of the stock in a transaction on Tuesday, March 3rd. The shares were purchased at an average price of $41.90 per share, for a total transaction of $100,560.00. Following the transaction, the director directly owned 16,881 shares of the company’s stock, valued at approximately $707,313.90. This represents a 16.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

ACI Worldwide Stock Down 0.7%

ACIW stock opened at $42.55 on Monday. The company’s 50 day moving average is $43.00 and its 200 day moving average is $46.96. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 19.61 and a beta of 1.07. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.51. ACI Worldwide, Inc. has a 1-year low of $38.05 and a 1-year high of $57.49.

ACI Worldwide (NASDAQ:ACIW) last announced its earnings results on Thursday, February 26th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.15). The company had revenue of $481.60 million for the quarter, compared to the consensus estimate of $465.20 million. ACI Worldwide had a net margin of 12.88% and a return on equity of 16.44%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Sell-side analysts predict that ACI Worldwide, Inc. will post 2 EPS for the current fiscal year.

ACI Worldwide Company Profile

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.