ACI Worldwide, Inc. (NASDAQ:ACIW) Sees Significant Decrease in Short Interest

ACI Worldwide, Inc. (NASDAQ:ACIW) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 2,010,000 shares, a drop of 11.8% from the December 31st total of 2,280,000 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily volume of 682,500 shares, the days-to-cover ratio is presently 2.9 days.

Insider Activity

In other news, Director Adalio T. Sanchez sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $57.28, for a total transaction of $68,736.00. Following the completion of the sale, the director now owns 43,272 shares in the company, valued at $2,478,620.16. This trade represents a 2.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Abraham Kuruvilla sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $55.71, for a total value of $300,834.00. Following the completion of the transaction, the chief technology officer now owns 81,107 shares in the company, valued at approximately $4,518,470.97. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On ACI Worldwide

Several hedge funds and other institutional investors have recently modified their holdings of ACIW. Congress Asset Management Co. bought a new position in shares of ACI Worldwide in the fourth quarter valued at approximately $55,998,000. Assenagon Asset Management S.A. boosted its holdings in ACI Worldwide by 144.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 482,740 shares of the technology company’s stock valued at $24,571,000 after purchasing an additional 285,001 shares during the period. Barclays PLC grew its position in shares of ACI Worldwide by 244.0% during the 3rd quarter. Barclays PLC now owns 226,173 shares of the technology company’s stock valued at $11,513,000 after purchasing an additional 160,425 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of ACI Worldwide by 32.7% in the third quarter. Fisher Asset Management LLC now owns 462,971 shares of the technology company’s stock worth $23,565,000 after purchasing an additional 114,085 shares during the period. Finally, EULAV Asset Management purchased a new stake in shares of ACI Worldwide in the fourth quarter worth $5,463,000. 94.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ACIW. Stephens lowered ACI Worldwide from an “overweight” rating to an “equal weight” rating in a report on Friday, October 18th. DA Davidson downgraded shares of ACI Worldwide from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $57.00 to $60.00 in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $49.50.

ACI Worldwide Stock Performance

NASDAQ:ACIW opened at $53.55 on Friday. The business’s fifty day moving average is $53.77 and its 200 day moving average is $50.77. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 25.38 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.56 and a current ratio of 1.56. ACI Worldwide has a 52-week low of $28.79 and a 52-week high of $59.71.

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.