Brown Advisory Inc. Invests $339,000 in ACI Worldwide, Inc. (NASDAQ:ACIW)

Brown Advisory Inc. bought a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,197 shares of the technology company’s stock, valued at approximately $339,000.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in ACI Worldwide in the fourth quarter valued at $5,292,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ACI Worldwide by 13.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,552 shares of the technology company’s stock valued at $1,430,000 after purchasing an additional 3,236 shares during the period. HighTower Advisors LLC grew its position 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 period. Farther Finance Advisors LLC lifted its stake in shares of ACI Worldwide by 278.3% during 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in ACI Worldwide in the fourth quarter valued at about $1,661,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

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

ACI Worldwide Price Performance

Shares of ACI Worldwide stock opened at $43.78 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.50. The business’s 50 day simple moving average is $46.51 and its two-hundred day simple moving average is $50.61. The stock has a market capitalization of $4.59 billion, a P/E ratio of 17.24 and a beta of 1.06. ACI Worldwide, Inc. has a one year low of $40.94 and a one year high of $59.71.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.94% and a net margin of 16.12%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Analysts forecast that ACI Worldwide, Inc. will post 2 EPS 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.