ACI Worldwide (NASDAQ:ACIW) Sees Strong Trading Volume

ACI Worldwide, Inc. (NASDAQ:ACIW – Get Rating) saw strong trading volume on Friday . 531,509 shares were traded during mid-day trading, a decline of 40% from the previous session’s volume of 884,448 shares.The stock last traded at $26.09 and had previously closed at $25.78.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. DA Davidson boosted their price objective on shares of ACI Worldwide from $29.00 to $34.00 in a report on Thursday, March 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price objective on shares of ACI Worldwide in a report on Thursday, March 2nd. StockNews.com assumed coverage on shares of ACI Worldwide in a report on Thursday. They issued a “hold” rating on the stock. Finally, Stephens boosted their price target on shares of ACI Worldwide from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, March 2nd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.67.

ACI Worldwide Price Performance

The stock has a fifty day moving average of $26.63 and a 200-day moving average of $23.51. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 21.38 and a beta of 1.10.

Hedge Funds Weigh In On ACI Worldwide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in ACI Worldwide by 3.9% in the third quarter. BlackRock Inc. now owns 14,744,451 shares of the technology company’s stock valued at $308,157,000 after purchasing an additional 549,177 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of ACI Worldwide by 26.1% in the fourth quarter. Franklin Resources Inc. now owns 7,974,554 shares of the technology company’s stock valued at $183,415,000 after acquiring an additional 1,648,142 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of ACI Worldwide by 3.8% in the fourth quarter. Alliancebernstein L.P. now owns 6,398,312 shares of the technology company’s stock valued at $147,161,000 after acquiring an additional 235,858 shares during the period. State Street Corp boosted its holdings in shares of ACI Worldwide by 1.9% in the first quarter. State Street Corp now owns 4,026,192 shares of the technology company’s stock valued at $126,785,000 after acquiring an additional 75,092 shares during the period. Finally, River Road Asset Management LLC boosted its holdings in shares of ACI Worldwide by 0.9% in the third quarter. River Road Asset Management LLC now owns 4,017,386 shares of the technology company’s stock valued at $83,963,000 after acquiring an additional 36,459 shares during the period. 97.55% of the stock is owned by institutional investors and hedge funds.

About ACI Worldwide

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ACI Worldwide, Inc engages in the development, marketing, installation, and support of software products and solutions primarily focused on facilitating real-time electronic payments. It operates through the following segments: ACI on Premise and ACI on Demand. The ACI on Premise segment serves customers who manage their software on site.