Massachusetts Financial Services Co. MA Sells 138,815 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Massachusetts Financial Services Co. MA cut its stake in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 803,965 shares of the technology company's stock after selling 138,815 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.76% of ACI Worldwide worth $43,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of ACI Worldwide in the 4th quarter valued at approximately $75,868,000. American Century Companies Inc. raised its stake in ACI Worldwide by 206.2% in the 4th quarter. American Century Companies Inc. now owns 1,005,479 shares of the technology company's stock valued at $52,194,000 after acquiring an additional 677,143 shares during the period. Geode Capital Management LLC raised its stake in ACI Worldwide by 18.4% in the 4th quarter. Geode Capital Management LLC now owns 2,962,449 shares of the technology company's stock valued at $154,095,000 after acquiring an additional 459,821 shares during the period. Ameriprise Financial Inc. lifted its holdings in ACI Worldwide by 160.4% during the 4th quarter. Ameriprise Financial Inc. now owns 674,799 shares of the technology company's stock worth $35,027,000 after purchasing an additional 415,612 shares during the last quarter. Finally, Bank of America Corp DE increased its position in ACI Worldwide by 267.7% during the 4th quarter. Bank of America Corp DE now owns 563,335 shares of the technology company's stock worth $29,243,000 after buying an additional 410,142 shares during the period. 94.74% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mary P. Harman sold 7,194 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $47.48, for a total transaction of $341,571.12. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas W. Warsop III bought 5,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $48.57 per share, for a total transaction of $242,850.00. Following the transaction, the chief executive officer owned 326,922 shares in the company, valued at $15,878,601.54. This trade represents a 1.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Jefferies Financial Group decreased their price target on ACI Worldwide from $68.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Stephens raised ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 price target on the stock in a research note on Thursday. DA Davidson raised ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 price objective on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen raised ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ACI Worldwide currently has a consensus rating of "Buy" and an average target price of $60.00.

ACI Worldwide Stock Down 0.7%

NASDAQ ACIW traded down $0.34 during mid-day trading on Monday, hitting $45.00. The company's stock had a trading volume of 415,432 shares, compared to its average volume of 723,941. The company's 50 day simple moving average is $46.22 and its 200 day simple moving average is $50.45. ACI Worldwide, Inc. has a twelve month low of $40.94 and a twelve month high of $59.71. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 17.72 and a beta of 1.06. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55.

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

ACI Worldwide 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.