ACI Worldwide's (ACIW) "Buy" Rating Reiterated at DA Davidson

Key Points

• DA Davidson reiterated a Buy rating on ACI Worldwide and kept a $60 price target, implying about 38.7% upside from the current share price.
• The stock was down 4.9% on Monday to $43.27, even as the company recently beat quarterly expectations with $0.61 EPS versus $0.45 expected and revenue of $425.75 million.
• Analyst views are mixed overall, with ACI Worldwide holding a consensus rating of Hold; meanwhile, insiders have been buying shares and hedge funds own 94.73% of the stock.

ACI Worldwide (NASDAQ:ACIW - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at DA Davidson in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $60.00 target price on the technology company's stock. DA Davidson's price target would indicate a potential upside of 38.68% from the company's current price.

ACIW has been the subject of a number of other reports. Zacks Research cut ACI Worldwide from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded ACI Worldwide from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, ACI Worldwide presently has an average rating of "Hold" and a consensus price target of $60.00.

ACI Worldwide Trading Down 4.9%

Shares of NASDAQ ACIW traded down $2.24 during trading on Monday, reaching $43.27. The stock had a trading volume of 269,778 shares, compared to its average volume of 803,102. ACI Worldwide has a fifty-two week low of $38.05 and a fifty-two week high of $54.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 1.53. The business's 50-day moving average price is $41.69 and its 200-day moving average price is $44.31. The company has a market cap of $4.39 billion, a P/E ratio of 21.79 and a beta of 1.01.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.16. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The business had revenue of $425.75 million during the quarter, compared to analysts' expectations of $410.08 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that ACI Worldwide will post 2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Adalio T. Sanchez bought 3,000 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average cost of $40.98 per share, for a total transaction of $122,940.00. Following the completion of the acquisition, the director owned 64,378 shares in the company, valued at approximately $2,638,210.44. This trade represents a 4.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Juan Benitez II bought 2,400 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average price of $41.90 per share, with a total value of $100,560.00. Following the completion of the acquisition, the director owned 16,881 shares of the company's stock, valued at $707,313.90. This trade represents a 16.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.10% of the company's stock.

Institutional Trading of ACI Worldwide

A number of institutional investors have recently bought and sold shares of ACIW. Farther Finance Advisors LLC lifted its holdings in ACI Worldwide by 226.8% during the 4th quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company's stock worth $26,000 after buying an additional 372 shares during the last quarter. Allworth Financial LP lifted its holdings in ACI Worldwide by 93.5% during the 3rd quarter. Allworth Financial LP now owns 532 shares of the technology company's stock worth $28,000 after buying an additional 257 shares during the last quarter. Bessemer Group Inc. lifted its holdings in ACI Worldwide by 51.9% during the 3rd quarter. Bessemer Group Inc. now owns 626 shares of the technology company's stock worth $32,000 after buying an additional 214 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in ACI Worldwide during the 4th quarter worth about $37,000. Finally, State of Wyoming purchased a new stake in ACI Worldwide during the 2nd quarter worth about $37,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

About ACI Worldwide

ACI Worldwide NASDAQ: ACIW is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company's platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI's modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.