ACI Worldwide, Inc. (NASDAQ:ACIW) is Palisade Capital Management LP's 7th Largest Position

Palisade Capital Management LP reduced its position in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 0.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 864,618 shares of the technology company's stock after selling 7,450 shares during the period. ACI Worldwide accounts for approximately 1.4% of Palisade Capital Management LP's investment portfolio, making the stock its 7th largest holding. Palisade Capital Management LP owned approximately 0.82% of ACI Worldwide worth $47,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of ACI Worldwide during the first quarter worth $25,000. Covestor Ltd grew its stake in shares of ACI Worldwide by 239.4% during the fourth quarter. Covestor Ltd now owns 594 shares of the technology company's stock worth $31,000 after purchasing an additional 419 shares during the period. Versant Capital Management Inc grew its stake in shares of ACI Worldwide by 121.3% during the first quarter. Versant Capital Management Inc now owns 885 shares of the technology company's stock worth $48,000 after purchasing an additional 485 shares during the period. Farther Finance Advisors LLC grew its stake in shares of ACI Worldwide by 278.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,899 shares of the technology company's stock worth $99,000 after purchasing an additional 1,397 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of ACI Worldwide by 24.5% during the first quarter. GAMMA Investing LLC now owns 3,266 shares of the technology company's stock worth $179,000 after purchasing an additional 642 shares during the period. 94.74% of the stock is owned by institutional investors and hedge funds.

ACI Worldwide Price Performance

NASDAQ:ACIW traded up $0.70 during trading hours on Friday, reaching $46.19. 438,478 shares of the company were exchanged, compared to its average volume of 726,843. The company has a market capitalization of $4.84 billion, a P/E ratio of 18.18 and a beta of 1.06. ACI Worldwide, Inc. has a 1-year low of $38.59 and a 1-year high of $59.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.50. The business has a 50 day moving average of $47.77 and a 200 day moving average of $50.97.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.18. The firm had revenue of $394.57 million for the quarter, compared to the consensus estimate of $364.36 million. ACI Worldwide had a return on equity of 20.94% and a net margin of 16.12%. The company's revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. Research analysts forecast that ACI Worldwide, Inc. will post 2 EPS for the current year.

Insider Buying and Selling

In other ACI Worldwide news, CEO Thomas W. Warsop III purchased 5,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $48.57 per share, for a total transaction of $242,850.00. Following the acquisition, the chief executive officer owned 326,922 shares in the company, valued at approximately $15,878,601.54. The trade was a 1.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary P. Harman sold 7,194 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $47.48, for a total value of $341,571.12. Following the completion of the sale, the director owned 34,388 shares of the company's stock, valued at approximately $1,632,742.24. This represents a 17.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ACIW has been the subject of several recent analyst reports. DA Davidson upgraded ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 price target for the company in a report on Monday, May 12th. Jefferies Financial Group decreased their price objective on ACI Worldwide from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Finally, Wall Street Zen upgraded ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ACI Worldwide has a consensus rating of "Moderate Buy" and an average target price of $60.00.

ACI Worldwide Company Profile

ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments in the United States and internationally. The company operates in three segments: Banks, Merchants, and Billers. The company offers ACI Acquiring, a solution to process credit, debit, and prepaid card transactions, deliver digital innovation, and fraud prevention; ACI Issuing, a digital payment issuing solution for new payment offering; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.