144,917 ACI Worldwide, Inc. $ACIW Shares Purchased by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its ACI Worldwide stake by 9.1% in the third quarter, purchasing 144,917 shares to own 1.74 million shares valued at approximately $84.9 million. Institutional investors and hedge funds collectively own 94.73% of the company.
• Analyst sentiment remains generally positive, with an average rating of “Buy” and an average price target of $66.00. Ratings ranged from “Hold” to “Strong Buy,” including a $66 target from DA Davidson.
• ACI Worldwide shares fell 1.0% to $50.71 during Tuesday trading. The company has a $5.12 billion market capitalization, a 52-week range of $38.05 to $61.08, and provides global payment-processing and electronic-payment software.

Congress Asset Management Co. grew its position in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 9.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,737,223 shares of the technology company's stock after purchasing an additional 144,917 shares during the period. Congress Asset Management Co. owned about 1.72% of ACI Worldwide worth $84,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in ACI Worldwide during the 2nd quarter worth $823,821,000. Dimensional Fund Advisors LP grew its stake in ACI Worldwide by 13.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,813,150 shares of the technology company's stock valued at $115,364,000 after acquiring an additional 344,358 shares during the period. Reinhart Partners LLC. increased its holdings in shares of ACI Worldwide by 8.5% in the second quarter. Reinhart Partners LLC. now owns 2,424,247 shares of the technology company's stock worth $121,916,000 after acquiring an additional 189,433 shares in the last quarter. North Reef Capital Management LP increased its holdings in shares of ACI Worldwide by 13.2% in the first quarter. North Reef Capital Management LP now owns 2,230,000 shares of the technology company's stock worth $91,452,000 after acquiring an additional 260,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of ACI Worldwide by 5.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,769,112 shares of the technology company's stock worth $72,551,000 after purchasing an additional 86,964 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Analysts Set New Price Targets

ACIW has been the topic of several recent analyst reports. DA Davidson reiterated a "buy" rating and set a $66.00 price objective on shares of ACI Worldwide in a report on Wednesday, September 2nd. Zacks Research upgraded shares of ACI Worldwide from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 20th. Wall Street Zen lowered shares of ACI Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of ACI Worldwide from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $66.00.

ACI Worldwide Stock Down 1.0%

Shares of NASDAQ:ACIW traded down $0.51 during midday trading on Tuesday, reaching $50.71. The company had a trading volume of 730,948 shares, compared to its average volume of 874,220. ACI Worldwide, Inc. has a 1-year low of $38.05 and a 1-year high of $61.08. The stock has a market cap of $5.12 billion, a PE ratio of 23.26 and a beta of 0.99. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.52. The business's 50 day moving average price is $52.65 and its 200 day moving average price is $48.12.

ACI Worldwide Company Profile

ACI Worldwide, Inc is a global provider of payment software and electronic payment solutions. The company develops technology that enables banks, merchants, billers and other businesses to process digital payments, manage transactions and support real-time payment capabilities.

Its products and services include merchant payment processing, online and mobile payments, bill payment, account-to-account transfers, real-time payments, fraud prevention and transaction monitoring. ACI's software is designed to support payment acceptance and processing across multiple channels, including e-commerce, mobile applications, automated teller machines and point-of-sale systems.

Founded in 1993 as Applied Communications, Inc, the company serves customers across North America, Europe, Asia-Pacific, Latin America and other international markets.

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