Congress Asset Management Co. Raises Stake in ACI Worldwide, Inc. $ACIW

Congress Asset Management Co. increased its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,391,125 shares of the technology company’s stock after buying an additional 52,946 shares during the quarter. Congress Asset Management Co. owned about 1.35% of ACI Worldwide worth $66,510,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ACIW. Millennium Management LLC boosted its holdings in shares of ACI Worldwide by 160.4% in the 1st quarter. Millennium Management LLC now owns 157,816 shares of the technology company’s stock valued at $8,634,000 after acquiring an additional 97,206 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of ACI Worldwide by 93.4% during the first quarter. NewEdge Advisors LLC now owns 1,472 shares of the technology company’s stock worth $81,000 after purchasing an additional 711 shares during the last quarter. Caxton Associates LLP acquired a new position in ACI Worldwide during the first quarter valued at $259,000. Empowered Funds LLC lifted its position in ACI Worldwide by 64.2% during the first quarter. Empowered Funds LLC now owns 16,362 shares of the technology company’s stock valued at $895,000 after purchasing an additional 6,399 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ACI Worldwide by 13.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 407,332 shares of the technology company’s stock valued at $22,285,000 after purchasing an additional 48,988 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

ACI Worldwide Price Performance

NASDAQ:ACIW opened at $40.89 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 1.54. The company has a 50 day moving average price of $41.58 and a 200-day moving average price of $46.30. ACI Worldwide, Inc. has a 1-year low of $38.05 and a 1-year high of $57.49. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 18.84 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ACIW. Weiss Ratings downgraded ACI Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 18th. Zacks Research downgraded ACI Worldwide from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 10th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.00.

Insider Activity

In other ACI Worldwide news, Director Juan Benitez II purchased 2,400 shares of ACI Worldwide stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average price of $41.90 per share, with a total value of $100,560.00. Following the acquisition, the director owned 16,881 shares of the company’s stock, valued at $707,313.90. This trade represents a 16.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Adalio T. Sanchez purchased 3,000 shares of the stock in a transaction on Monday, March 2nd. The shares were acquired at an average price of $40.98 per share, for a total transaction of $122,940.00. Following the transaction, the director directly owned 64,378 shares of the company’s stock, valued at $2,638,210.44. This represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.10% of the company’s stock.

ACI Worldwide Profile

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.