544,662 Shares in ACI Worldwide, Inc. $ACIW Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 544,662 shares of ACI Worldwide during the second quarter, worth approximately $27.4 million and representing about 0.54% of the company.
• Institutional investors own 94.73% of ACI Worldwide, while the stock recently traded at $49.19, down 0.8%, with a market capitalization of roughly $4.97 billion.
• Analyst sentiment remains positive overall, with a consensus “Buy” rating and a target price of $66.00, despite one recent downgrade to “Hold.”

Bank of America Corp DE purchased a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 544,662 shares of the technology company's stock, valued at approximately $27,391,000. Bank of America Corp DE owned approximately 0.54% of ACI Worldwide as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Essential Partners LLC boosted its stake in shares of ACI Worldwide by 80.3% in the 1st quarter. Essential Partners LLC now owns 734 shares of the technology company's stock valued at $30,000 after purchasing an additional 327 shares in the last quarter. Allworth Financial LP purchased a new position in ACI Worldwide in the 2nd quarter worth $58,000. EverSource Wealth Advisors LLC lifted its stake in ACI Worldwide by 47.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,388 shares of the technology company's stock worth $57,000 after purchasing an additional 444 shares during the last quarter. Versant Capital Management Inc lifted its stake in ACI Worldwide by 109.7% in the second quarter. Versant Capital Management Inc now owns 1,938 shares of the technology company's stock worth $97,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in ACI Worldwide in the first quarter worth $91,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

ACI Worldwide Trading Down 0.8%

ACIW opened at $49.19 on Wednesday. ACI Worldwide, Inc. has a one year low of $38.05 and a one year high of $61.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.58. The business has a 50 day simple moving average of $53.95 and a two-hundred day simple moving average of $47.60. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 22.56 and a beta of 0.98.

Analysts Set New Price Targets

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

About ACI Worldwide

ACI Worldwide, Inc is a global provider of payment systems and software for financial institutions, merchants, billers and intermediaries. Its technology supports electronic payments across banking, retail, bill payment and other commerce applications, helping organizations process transactions and manage payment operations.

The company's offerings include real-time payment infrastructure, digital banking and account-to-account payment capabilities, merchant payment solutions, bill payment services and fraud management tools.

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