Townsquare Capital LLC Purchases 7,133 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Key Points

• Townsquare Capital LLC increased its ownership of ACI Worldwide by 11.4%, now holding 69,527 shares valued at approximately $3.8 million.
• Research analysts have recently upgraded the rating on ACI Worldwide to "overweight" with a price target of $60, while some firms have set a "buy" rating.
• ACI Worldwide reported earnings of $0.35 per share, exceeding analyst expectations, with revenues of $401.26 million, a 7.4% increase year-over-year.

Townsquare Capital LLC increased its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,527 shares of the technology company's stock after buying an additional 7,133 shares during the period. Townsquare Capital LLC owned about 0.07% of ACI Worldwide worth $3,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACIW. LPL Financial LLC increased its stake in ACI Worldwide by 13.5% in the fourth quarter. LPL Financial LLC now owns 31,132 shares of the technology company's stock valued at $1,616,000 after purchasing an additional 3,698 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of ACI Worldwide by 21.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 214,278 shares of the technology company's stock worth $11,123,000 after purchasing an additional 37,584 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of ACI Worldwide by 1.0% during the 4th quarter. Russell Investments Group Ltd. now owns 72,703 shares of the technology company's stock worth $3,774,000 after purchasing an additional 719 shares during the period. Invesco Ltd. raised its holdings in ACI Worldwide by 8.5% in the fourth quarter. Invesco Ltd. now owns 2,013,328 shares of the technology company's stock valued at $104,512,000 after buying an additional 157,303 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in ACI Worldwide during the fourth quarter worth approximately $5,292,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACIW has been the subject of several recent research 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 dropped their price objective on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Stephens upgraded shares of ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 target price for the company in a research note on Thursday, July 17th. Finally, Wall Street Zen cut shares of ACI Worldwide from a "strong-buy" rating to a "hold" rating in a research report on Saturday.

Insider Activity at ACI Worldwide

In other ACI Worldwide news, Director Janet O. Estep sold 4,500 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $44.66, for a total value of $200,970.00. Following the sale, the director directly owned 77,631 shares in the company, valued at approximately $3,467,000.46. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary P. Harman sold 7,194 shares of ACI Worldwide stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $47.48, for a total transaction of $341,571.12. Following the completion of the transaction, the director directly owned 34,388 shares in the company, valued at approximately $1,632,742.24. This trade represents a 17.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

ACI Worldwide Stock Up 2.1%

Shares of ACIW traded up $0.95 during midday trading on Wednesday, hitting $47.29. The company had a trading volume of 1,117,823 shares, compared to its average volume of 907,861. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.62. ACI Worldwide, Inc. has a 52 week low of $40.45 and a 52 week high of $59.71. The company's 50 day moving average price is $45.06 and its 200 day moving average price is $49.41. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 19.95 and a beta of 1.07.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. ACI Worldwide had a return on equity of 19.09% and a net margin of 14.76%. The business had revenue of $401.26 million during the quarter, compared to the consensus estimate of $380.45 million. During the same period in the previous year, the business earned $0.47 EPS. The business's quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts predict that ACI Worldwide, Inc. will post 2 EPS for the current year.

About ACI Worldwide

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.