ACI Worldwide, Inc. (NASDAQ:ACIW) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW) by 4.1% in the second quarter, HoldingsChannel.com reports. The firm owned 231,968 shares of the technology company’s stock after acquiring an additional 9,114 shares during the period. Public Sector Pension Investment Board’s holdings in ACI Worldwide were worth $9,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of ACI Worldwide during the fourth quarter valued at $37,509,000. Assetmark Inc. boosted its holdings in shares of ACI Worldwide by 38.8% during the fourth quarter. Assetmark Inc. now owns 16,989 shares of the technology company’s stock valued at $520,000 after acquiring an additional 4,751 shares during the period. Weitz Investment Management Inc. boosted its holdings in shares of ACI Worldwide by 30.5% during the fourth quarter. Weitz Investment Management Inc. now owns 372,000 shares of the technology company’s stock valued at $11,383,000 after acquiring an additional 87,000 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of ACI Worldwide by 0.7% during the fourth quarter. Allianz Asset Management GmbH now owns 168,622 shares of the technology company’s stock valued at $5,160,000 after acquiring an additional 1,208 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of ACI Worldwide during the fourth quarter valued at $1,512,000. Institutional investors and hedge funds own 94.74% of the company’s stock.

Wall Street Analyst Weigh In

ACIW has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on shares of ACI Worldwide from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Needham & Company LLC restated a “hold” rating on shares of ACI Worldwide in a research note on Friday, August 2nd. StockNews.com cut shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Canaccord Genuity Group lifted their price objective on shares of ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a 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 $47.50.

ACI Worldwide Stock Performance

Shares of NASDAQ ACIW opened at $50.34 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 37.57 and a beta of 1.19. The stock’s fifty day simple moving average is $46.61 and its 200 day simple moving average is $39.05. ACI Worldwide, Inc. has a 52-week low of $19.56 and a 52-week high of $51.00.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.24. The firm had revenue of $373.48 million during the quarter, compared to analysts’ expectations of $349.95 million. ACI Worldwide had a return on equity of 19.18% and a net margin of 12.01%. As a group, sell-side analysts forecast that ACI Worldwide, Inc. will post 1.96 earnings per share for the current fiscal year.

ACI Worldwide announced that its Board of Directors has authorized a share repurchase program on Thursday, June 13th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.