DA Davidson Forecasts Strong Price Appreciation for ACI Worldwide (NASDAQ:ACIW) Stock

Key Points

• DA Davidson raised its price target on ACI Worldwide from $60 to $64 and kept a buy rating, implying about 15.4% upside from the prior close.
• Other analyst opinions are mixed, but the overall view remains constructive: ACIW has a Moderate Buy consensus rating and a consensus target price of $62.00.
• The company recently beat expectations in its latest quarter, reporting $0.61 EPS versus a $0.45 estimate and $425.75 million in revenue, with sales up 7.9% year over year.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) had its target price upped by stock analysts at DA Davidson from $60.00 to $64.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. DA Davidson's target price points to a potential upside of 15.44% from the stock's previous close.

A number of other brokerages have also weighed in on ACIW. Wall Street Zen lowered shares of ACI Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Weiss Ratings upgraded ACI Worldwide from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. Finally, Zacks Research raised ACI Worldwide from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

ACI Worldwide Trading Up 0.6%

Shares of NASDAQ:ACIW opened at $55.44 on Wednesday. The business's 50-day moving average is $46.24 and its 200 day moving average is $43.84. ACI Worldwide has a 1 year low of $38.05 and a 1 year high of $57.60. The firm has a market capitalization of $5.64 billion, a P/E ratio of 27.96 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.53 and a quick ratio of 1.53.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.16. The business had revenue of $425.75 million during the quarter, compared to the consensus estimate of $410.08 million. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. On average, research analysts predict that ACI Worldwide will post 2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACI Worldwide

Large investors have recently made changes to their positions in the company. Jefferson Bridge Capital LLC purchased a new stake in shares of ACI Worldwide during the fourth quarter worth about $1,176,000. JPMorgan Chase & Co. raised its stake in ACI Worldwide by 39.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 249,533 shares of the technology company's stock valued at $13,168,000 after purchasing an additional 69,964 shares during the last quarter. Congress Asset Management Co. lifted its holdings in ACI Worldwide by 4.0% in the 4th quarter. Congress Asset Management Co. now owns 1,391,125 shares of the technology company's stock valued at $66,510,000 after purchasing an additional 52,946 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in ACI Worldwide by 159.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 781,468 shares of the technology company's stock valued at $37,362,000 after purchasing an additional 480,711 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in ACI Worldwide during the 4th quarter worth $3,290,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Company Profile

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.

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