ACI Worldwide, Inc. $ACIW Shares Sold by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management cut its ACI Worldwide stake by 12.1% in the first quarter, selling 20,150 shares and leaving it with 146,250 shares valued at about $6.0 million.
• Wall Street sentiment is mixed but still constructive: recent ratings included a downgrade to Hold from Wall Street Zen, while DA Davidson reiterated a Buy and kept a $60 price target. The overall consensus from analysts remains Moderate Buy.
• ACI Worldwide reported better-than-expected quarterly results, with EPS of $0.61 versus $0.45 expected and revenue of $425.75 million, up 7.9% year over year. Shares were trading near $55.11, close to the 12-month high of $57.60.

Hillsdale Investment Management Inc. reduced its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,250 shares of the technology company's stock after selling 20,150 shares during the period. Hillsdale Investment Management Inc. owned about 0.14% of ACI Worldwide worth $5,998,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its stake in shares of ACI Worldwide by 226.8% in the fourth quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company's stock worth $26,000 after acquiring an additional 372 shares in the last quarter. Allworth Financial LP increased its position in shares of ACI Worldwide by 93.5% during the third quarter. Allworth Financial LP now owns 532 shares of the technology company's stock worth $28,000 after acquiring an additional 257 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of ACI Worldwide in the fourth quarter valued at $37,000. State of Wyoming acquired a new stake in shares of ACI Worldwide in the second quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in ACI Worldwide by 122.1% in the second quarter. EverSource Wealth Advisors LLC now owns 944 shares of the technology company's stock valued at $43,000 after purchasing an additional 519 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ACIW. Wall Street Zen cut ACI Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Zacks Research raised ACI Worldwide from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. Weiss Ratings upgraded ACI Worldwide from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. Finally, DA Davidson reissued a "buy" rating and set a $60.00 price objective on shares of ACI Worldwide in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

ACI Worldwide Price Performance

Shares of NASDAQ:ACIW opened at $55.11 on Wednesday. ACI Worldwide, Inc. has a 12 month low of $38.05 and a 12 month high of $57.60. The firm has a market capitalization of $5.60 billion, a P/E ratio of 27.69 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. The company's fifty day moving average price is $46.24 and its 200 day moving average price is $43.84.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.16. The company had revenue of $425.75 million during the quarter, compared to the consensus estimate of $410.08 million. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. ACI Worldwide's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, sell-side analysts predict that ACI Worldwide, Inc. will post 2.69 earnings per share for the current fiscal year.

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.

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