ACI Worldwide (NASDAQ:ACIW) Price Target Cut to $36.00

ACI Worldwide (NASDAQ:ACIWGet Rating) had its price objective cut by analysts at DA Davidson from $42.00 to $36.00 in a report released on Monday, The Fly reports. DA Davidson’s target price would indicate a potential upside of 26.98% from the company’s current price.

Separately, StockNews.com started coverage on shares of ACI Worldwide in a report on Thursday, March 31st. They set a “buy” rating on the stock.

Shares of NASDAQ:ACIW opened at $28.35 on Monday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 26.25 and a beta of 1.08. The firm’s 50-day simple moving average is $31.29 and its 200-day simple moving average is $32.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.82. ACI Worldwide has a fifty-two week low of $25.93 and a fifty-two week high of $41.16.

ACI Worldwide (NASDAQ:ACIWGet Rating) last issued its earnings results on Thursday, February 24th. The technology company reported $1.05 earnings per share for the quarter. The business had revenue of $466.80 million for the quarter, compared to the consensus estimate of $453.65 million. ACI Worldwide had a net margin of 9.32% and a return on equity of 15.82%. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share.

A number of hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new position in ACI Worldwide during the first quarter worth about $49,000. Morgan Stanley raised its position in ACI Worldwide by 98.2% during the second quarter. Morgan Stanley now owns 494,449 shares of the technology company’s stock worth $18,363,000 after acquiring an additional 244,936 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in ACI Worldwide by 35.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 86,125 shares of the technology company’s stock worth $2,647,000 after acquiring an additional 22,666 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in ACI Worldwide during the third quarter worth about $317,000. Finally, Nordea Investment Management AB raised its position in ACI Worldwide by 99.9% during the third quarter. Nordea Investment Management AB now owns 373,592 shares of the technology company’s stock worth $11,724,000 after acquiring an additional 186,656 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

About ACI Worldwide (Get Rating)

ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments to banks, merchants, and billers worldwide. The company offers ACI Acquiring, a merchant management system to deliver digital innovation, improve fraud prevention, and reduce interchange fees; ACI Issuing, a digital payments issuing solution; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.

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