Texas Permanent School Fund Corp Sells 13,777 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Texas Permanent School Fund Corp reduced its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,376 shares of the technology company’s stock after selling 13,777 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of ACI Worldwide worth $3,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of ACI Worldwide by 49.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company’s stock worth $52,000 after acquiring an additional 431 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in shares of ACI Worldwide by 7.3% in the 1st quarter. EntryPoint Capital LLC now owns 7,043 shares of the technology company’s stock worth $234,000 after acquiring an additional 478 shares in the last quarter. Swiss National Bank boosted its holdings in shares of ACI Worldwide by 0.3% in the 1st quarter. Swiss National Bank now owns 214,600 shares of the technology company’s stock worth $7,127,000 after acquiring an additional 600 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of ACI Worldwide by 123.3% in the 2nd quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock worth $45,000 after acquiring an additional 624 shares in the last quarter. Finally, NBC Securities Inc. boosted its holdings in shares of ACI Worldwide by 2.9% in the 1st quarter. NBC Securities Inc. now owns 24,601 shares of the technology company’s stock worth $816,000 after acquiring an additional 689 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors.

ACI Worldwide Stock Up 2.4 %

NASDAQ:ACIW opened at $48.53 on Monday. The stock’s fifty day moving average price is $45.44 and its two-hundred day moving average price is $38.31. ACI Worldwide, Inc. has a 52-week low of $19.56 and a 52-week high of $50.52. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 36.22 and a beta of 1.19.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.24. The company had revenue of $373.48 million for the quarter, compared to the consensus estimate of $349.95 million. ACI Worldwide had a return on equity of 19.18% and a net margin of 12.01%. On average, analysts anticipate that ACI Worldwide, Inc. will post 1.96 EPS for the current year.

ACI Worldwide declared that its board has authorized a share buyback plan on Thursday, June 13th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ACIW. DA Davidson boosted their target price on ACI Worldwide from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Needham & Company LLC reissued a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. StockNews.com downgraded ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, Canaccord Genuity Group upped their price objective on ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

ACI Worldwide Company Profile

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.