Algert Global LLC Purchases 138,447 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Algert Global LLC increased its position in ACI Worldwide, Inc. (NASDAQ:ACIW) by 811.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,507 shares of the technology company’s stock after purchasing an additional 138,447 shares during the period. Algert Global LLC’s holdings in ACI Worldwide were worth $6,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of ACI Worldwide in the 1st quarter worth about $3,321,000. GSA Capital Partners LLP bought a new position in shares of ACI Worldwide during the first quarter valued at approximately $846,000. CANADA LIFE ASSURANCE Co boosted its position in shares of ACI Worldwide by 26.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 109,169 shares of the technology company’s stock worth $3,623,000 after purchasing an additional 22,992 shares in the last quarter. ClariVest Asset Management LLC grew its stake in shares of ACI Worldwide by 140.3% in the 1st quarter. ClariVest Asset Management LLC now owns 62,112 shares of the technology company’s stock worth $2,063,000 after buying an additional 36,261 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. raised its stake in ACI Worldwide by 9.3% during the first quarter. Global Alpha Capital Management Ltd. now owns 2,112,828 shares of the technology company’s stock valued at $70,167,000 after buying an additional 180,600 shares during the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ACIW. DA Davidson increased their target price on ACI Worldwide from $48.00 to $52.00 and gave the stock 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 report on Saturday, August 3rd. Finally, Canaccord Genuity Group increased their price target on shares of ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.50.

ACI Worldwide Price Performance

NASDAQ ACIW opened at $50.23 on Monday. ACI Worldwide, Inc. has a one year low of $19.56 and a one year high of $51.00. The stock has a 50-day moving average of $47.22 and a 200 day moving average of $39.55. 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 capitalization of $5.26 billion, a price-to-earnings ratio of 37.49 and a beta of 1.19.

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

ACI Worldwide declared that its board has authorized a stock repurchase plan on Thursday, June 13th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 8% of its shares through open market purchases. Shares buyback plans are generally 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.