DA Davidson Forecasts Strong Price Appreciation for ACI Worldwide (NASDAQ:ACIW) Stock

ACI Worldwide (NASDAQ:ACIW) had its target price raised by equities research analysts at DA Davidson from $60.00 to $64.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 9.08% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Zacks Research raised shares of ACI Worldwide from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings upgraded shares of ACI Worldwide from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. Finally, Wall Street Zen downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $64.00.

ACI Worldwide Stock Performance

NASDAQ:ACIW opened at $58.67 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market capitalization of $5.96 billion, a P/E ratio of 29.48 and a beta of 0.98. The company has a 50 day moving average price of $46.76 and a 200 day moving average price of $43.96. ACI Worldwide has a fifty-two week low of $38.05 and a fifty-two week high of $59.31.

ACI Worldwide (NASDAQ:ACIW) last announced its earnings results on Thursday, May 7th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.16. The company had revenue of $425.75 million for the quarter, compared to analyst estimates of $410.08 million. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 earnings per share. Equities research analysts forecast that ACI Worldwide will post 2.69 EPS for the current year.

Hedge Funds Weigh In On ACI Worldwide

Several hedge funds and other institutional investors have recently made changes to their positions in ACIW. Farther Finance Advisors LLC increased its stake in shares of ACI Worldwide by 226.8% during the fourth quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company’s stock worth $26,000 after buying an additional 372 shares during the period. Allworth Financial LP lifted its stake in ACI Worldwide by 93.5% in the third quarter. Allworth Financial LP now owns 532 shares of the technology company’s stock worth $28,000 after acquiring an additional 257 shares during the last quarter. Essential Partners LLC lifted its stake in ACI Worldwide by 80.3% in the first quarter. Essential Partners LLC now owns 734 shares of the technology company’s stock worth $30,000 after acquiring an additional 327 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in ACI Worldwide in the fourth quarter worth approximately $37,000. Finally, State of Wyoming acquired a new position in ACI Worldwide during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

ACI Worldwide Company 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.