State of Alaska Department of Revenue Sells 2,183 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

State of Alaska Department of Revenue cut its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,723 shares of the technology company’s stock after selling 2,183 shares during the quarter. State of Alaska Department of Revenue’s holdings in ACI Worldwide were worth $3,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ACIW. Mount Yale Investment Advisors LLC purchased a new stake in shares of ACI Worldwide during the 3rd quarter valued at $208,000. Assenagon Asset Management S.A. grew its position in ACI Worldwide by 144.1% in the third quarter. Assenagon Asset Management S.A. now owns 482,740 shares of the technology company’s stock worth $24,571,000 after acquiring an additional 285,001 shares in the last quarter. Cetera Trust Company N.A increased its stake in ACI Worldwide by 7.9% in the third quarter. Cetera Trust Company N.A now owns 4,780 shares of the technology company’s stock valued at $243,000 after acquiring an additional 350 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in ACI Worldwide during the third quarter valued at about $280,000. Finally, Violich Capital Management Inc. bought a new stake in ACI Worldwide during the third quarter worth about $246,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analyst Upgrades and Downgrades

ACIW has been the topic of several recent research reports. Stephens lowered ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 18th. StockNews.com cut shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Needham & Company LLC reissued a “hold” rating on shares of ACI Worldwide in a research note on Friday, August 2nd. DA Davidson upped their price objective on shares of ACI Worldwide from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Canaccord Genuity Group increased their target price on shares of ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, ACI Worldwide has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

ACI Worldwide Stock Performance

Shares of ACIW stock opened at $49.20 on Friday. The company has a market capitalization of $5.19 billion, a P/E ratio of 36.72 and a beta of 1.19. ACI Worldwide, Inc. has a fifty-two week low of $19.68 and a fifty-two week high of $53.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50 day moving average price of $49.78 and a two-hundred day moving average price of $42.44.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.24. The company had revenue of $373.48 million during the quarter, compared to analyst estimates of $349.95 million. ACI Worldwide had a net margin of 12.01% and a return on equity of 19.18%. Analysts expect that ACI Worldwide, Inc. will post 1.96 earnings per share for the current year.

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.