Bank of New York Mellon Corp Sells 36,630 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Bank of New York Mellon Corp lowered its position in ACI Worldwide, Inc. (NASDAQ:ACIW) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 746,888 shares of the technology company’s stock after selling 36,630 shares during the quarter. Bank of New York Mellon Corp owned about 0.71% of ACI Worldwide worth $40,862,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in ACI Worldwide in the fourth quarter valued at $5,292,000. Amundi increased its stake in ACI Worldwide by 95.6% in the fourth quarter. Amundi now owns 63,221 shares of the technology company’s stock valued at $3,295,000 after acquiring an additional 30,901 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ACI Worldwide by 13.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,552 shares of the technology company’s stock valued at $1,430,000 after acquiring an additional 3,236 shares during the last quarter. HighTower Advisors LLC increased its stake in ACI Worldwide by 10.7% in the fourth quarter. HighTower Advisors LLC now owns 15,532 shares of the technology company’s stock valued at $806,000 after acquiring an additional 1,507 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in ACI Worldwide by 278.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,899 shares of the technology company’s stock valued at $99,000 after acquiring an additional 1,397 shares during the last quarter. Institutional investors own 94.74% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. DA Davidson upgraded shares of ACI Worldwide from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, May 12th. Finally, Jefferies Financial Group cut their price target on shares of ACI Worldwide from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

ACI Worldwide Price Performance

Shares of ACIW opened at $44.44 on Tuesday. The company has a market capitalization of $4.66 billion, a P/E ratio of 17.50 and a beta of 1.06. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $46.92 and a 200 day moving average of $50.71. ACI Worldwide, Inc. has a twelve month low of $40.33 and a twelve month high of $59.71.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.18. The business had revenue of $394.57 million for the quarter, compared to analysts’ expectations of $364.36 million. ACI Worldwide had a net margin of 16.12% and a return on equity of 20.94%. The company’s revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. As a group, equities research analysts anticipate that ACI Worldwide, Inc. will post 2 earnings per share for the current fiscal year.

Insider Activity at ACI Worldwide

In other news, Director Mary P. Harman sold 7,194 shares of the business’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $47.48, for a total value of $341,571.12. Following the sale, the director directly owned 34,388 shares in the company, valued at $1,632,742.24. The trade was a 17.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas W. Warsop III bought 5,000 shares of ACI Worldwide stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $48.57 per share, for a total transaction of $242,850.00. Following the completion of the acquisition, the chief executive officer owned 326,922 shares in the company, valued at approximately $15,878,601.54. The trade was a 1.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

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.