Allspring Global Investments Holdings LLC Reduces Stock Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Allspring Global Investments Holdings LLC lessened its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 29.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 130,169 shares of the technology company’s stock after selling 55,562 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ACI Worldwide were worth $6,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACIW. Inspire Advisors LLC acquired a new position in shares of ACI Worldwide in the 3rd quarter valued at about $2,944,000. Trust Point Inc. boosted its position in ACI Worldwide by 16.4% in the 3rd quarter. Trust Point Inc. now owns 6,577 shares of the technology company’s stock worth $335,000 after purchasing an additional 928 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of ACI Worldwide during the 3rd quarter worth approximately $112,000. One Wealth Advisors LLC increased its holdings in shares of ACI Worldwide by 31.2% during the 3rd quarter. One Wealth Advisors LLC now owns 7,335 shares of the technology company’s stock valued at $373,000 after purchasing an additional 1,743 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of ACI Worldwide in the 3rd quarter valued at $235,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Trading Down 0.4 %

ACIW stock opened at $48.80 on Monday. The business’s 50-day moving average is $49.66 and its 200 day moving average is $42.14. ACI Worldwide, Inc. has a 12-month low of $19.56 and a 12-month high of $53.29. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 36.42 and a beta of 1.19. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.79.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Stephens cut ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. Canaccord Genuity Group raised their price objective on ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, DA Davidson boosted their price objective on ACI Worldwide from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.75.

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.