Hillsdale Investment Management Inc. Lowers Stock Position in ACI Worldwide, Inc. $ACIW

Hillsdale Investment Management Inc. trimmed its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,250 shares of the technology company’s stock after selling 20,150 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in ACI Worldwide were worth $5,998,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACIW. Millennium Management LLC increased its stake in ACI Worldwide by 160.4% in the first quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock valued at $8,634,000 after purchasing an additional 97,206 shares during the period. NewEdge Advisors LLC boosted its stake in shares of ACI Worldwide by 93.4% during the first quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock worth $81,000 after buying an additional 711 shares during the period. Caxton Associates LLP acquired a new stake in shares of ACI Worldwide during the first quarter worth about $259,000. Empowered Funds LLC grew its holdings in shares of ACI Worldwide by 64.2% during the first quarter. Empowered Funds LLC now owns 16,362 shares of the technology company’s stock worth $895,000 after buying an additional 6,399 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of ACI Worldwide by 13.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 407,332 shares of the technology company’s stock worth $22,285,000 after buying an additional 48,988 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

ACI Worldwide Trading Down 2.3%

NASDAQ ACIW opened at $55.11 on Wednesday. The stock has a market capitalization of $5.60 billion, a P/E ratio of 27.69 and a beta of 0.98. ACI Worldwide, Inc. has a 52-week low of $38.05 and a 52-week high of $57.60. The firm has a 50-day moving average price of $46.24 and a 200 day moving average price of $43.84. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.51.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.16. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The company had revenue of $425.75 million for the quarter, compared to analyst estimates of $410.08 million. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts expect that ACI Worldwide, Inc. will post 2.69 EPS for the current year.

Analysts Set New Price Targets

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

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.