ACI Worldwide (NASDAQ:ACIW) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of ACI Worldwide (NASDAQ:ACIW) from a hold rating to a strong sell rating in a research note released on Tuesday,Zacks.com reports.

Separately, Weiss Ratings lowered shares of ACI Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.00.

ACI Worldwide Stock Down 2.4%

Shares of ACIW stock opened at $40.43 on Tuesday. ACI Worldwide has a fifty-two week low of $38.05 and a fifty-two week high of $57.49. The firm has a market capitalization of $4.11 billion, a PE ratio of 18.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.54 and a current ratio of 1.54. The stock’s 50-day simple moving average is $42.49 and its 200-day simple moving average is $46.79.

ACI Worldwide (NASDAQ:ACIW) last released its earnings results on Thursday, February 26th. The technology company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). The firm had revenue of $481.60 million for the quarter, compared to analyst estimates of $465.20 million. ACI Worldwide had a return on equity of 16.44% and a net margin of 12.88%.The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS. Equities analysts expect that ACI Worldwide will post 2 earnings per share for the current year.

Insider Activity

In related news, Director Juan Benitez II acquired 2,400 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was acquired at an average price of $41.90 per share, with a total value of $100,560.00. Following the acquisition, the director directly owned 16,881 shares in the company, valued at $707,313.90. This represents a 16.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Adalio T. Sanchez bought 3,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $40.98 per share, for a total transaction of $122,940.00. Following the purchase, the director directly owned 64,378 shares of the company’s stock, valued at approximately $2,638,210.44. The trade was a 4.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On ACI Worldwide

Several hedge funds have recently bought and sold shares of ACIW. Franklin Resources Inc. lifted its stake in shares of ACI Worldwide by 79.6% in the 3rd quarter. Franklin Resources Inc. now owns 9,659,385 shares of the technology company’s stock valued at $509,726,000 after purchasing an additional 4,280,684 shares during the period. Millennium Management LLC grew its position in ACI Worldwide by 879.8% during the third quarter. Millennium Management LLC now owns 1,430,404 shares of the technology company’s stock valued at $75,482,000 after buying an additional 1,284,419 shares during the period. Norges Bank acquired a new stake in ACI Worldwide during the fourth quarter valued at $54,735,000. Fuller & Thaler Asset Management Inc. increased its holdings in ACI Worldwide by 90.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,816,588 shares of the technology company’s stock valued at $86,851,000 after buying an additional 861,779 shares in the last quarter. Finally, London Co. of Virginia increased its holdings in ACI Worldwide by 91.0% in the third quarter. London Co. of Virginia now owns 1,732,941 shares of the technology company’s stock valued at $91,448,000 after buying an additional 825,671 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

About ACI Worldwide

ACI Worldwide (NASDAQ:ACIW) is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company’s platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI’s modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.