State of New Jersey Common Pension Fund D Sells 12,588 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

State of New Jersey Common Pension Fund D decreased its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 12.0% during the fourth quarter, HoldingsChannel reports. The firm owned 92,446 shares of the technology company’s stock after selling 12,588 shares during the period. State of New Jersey Common Pension Fund D’s holdings in ACI Worldwide were worth $2,829,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd increased its position in ACI Worldwide by 136.6% during the 3rd quarter. Covestor Ltd now owns 1,417 shares of the technology company’s stock valued at $32,000 after purchasing an additional 818 shares during the period. Strs Ohio increased its position in ACI Worldwide by 142.9% during the 3rd quarter. Strs Ohio now owns 1,700 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. Watershed Asset Management L.L.C. purchased a new position in ACI Worldwide during the 4th quarter valued at about $296,000. SkyView Investment Advisors LLC increased its position in ACI Worldwide by 3.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 11,998 shares of the technology company’s stock valued at $271,000 after purchasing an additional 444 shares during the period. Finally, Assetmark Inc. increased its position in ACI Worldwide by 18.2% during the 3rd quarter. Assetmark Inc. now owns 12,238 shares of the technology company’s stock valued at $276,000 after purchasing an additional 1,885 shares during the period. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. TheStreet raised shares of ACI Worldwide from a “c” rating to a “b-” rating in a research report on Thursday, January 4th. Canaccord Genuity Group reissued a “buy” rating and set a $40.00 target price on shares of ACI Worldwide in a research report on Friday, March 15th. Jefferies Financial Group started coverage on shares of ACI Worldwide in a research report on Friday, March 8th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, DA Davidson reaffirmed a “buy” rating and issued a $39.00 price objective on shares of ACI Worldwide in a research report on Thursday, March 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.00.

ACI Worldwide Stock Down 0.6 %

Shares of ACI Worldwide stock opened at $33.10 on Tuesday. The firm’s 50 day moving average price is $32.08 and its 200-day moving average price is $29.11. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. ACI Worldwide, Inc. has a 52-week low of $19.56 and a 52-week high of $33.83. The company has a market cap of $3.52 billion, a P/E ratio of 29.82 and a beta of 1.24.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. The firm had revenue of $477.00 million for the quarter, compared to the consensus estimate of $476.43 million. ACI Worldwide had a net margin of 8.37% and a return on equity of 16.30%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. On average, sell-side analysts predict that ACI Worldwide, Inc. will post 1.83 EPS for the current fiscal 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.