Assenagon Asset Management S.A. Sells 296,164 Shares of ACI Worldwide, Inc. $ACIW

Key Points

• Assenagon Asset Management cut its ACI Worldwide stake by 72.9% in the second quarter, selling 296,164 shares and retaining 110,063 shares valued at approximately $5.5 million.
• Other institutional investors increased their positions, and institutional ownership remains high at 94.73% of ACI Worldwide’s outstanding stock.
• ACI Worldwide shares opened at $52.24, while analysts maintain a consensus “Hold” rating and a $66.00 price target; the stock’s 52-week range is $38.05 to $61.08.

Assenagon Asset Management S.A. trimmed its position in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 72.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,063 shares of the technology company's stock after selling 296,164 shares during the quarter. Assenagon Asset Management S.A. owned 0.11% of ACI Worldwide worth $5,535,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ACIW. WCM Investment Management LLC raised its stake in ACI Worldwide by 16.8% in the 1st quarter. WCM Investment Management LLC now owns 516,342 shares of the technology company's stock worth $20,814,000 after purchasing an additional 74,085 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of ACI Worldwide by 379.9% during the 1st quarter. Quantinno Capital Management LP now owns 82,590 shares of the technology company's stock worth $3,387,000 after purchasing an additional 65,380 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of ACI Worldwide by 27.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 166,400 shares of the technology company's stock worth $7,956,000 after purchasing an additional 35,700 shares in the last quarter. Amundi increased its holdings in shares of ACI Worldwide by 79.7% during the first quarter. Amundi now owns 58,680 shares of the technology company's stock worth $2,406,000 after purchasing an additional 26,026 shares during the period. Finally, London Co. of Virginia increased its holdings in shares of ACI Worldwide by 19.9% during the first quarter. London Co. of Virginia now owns 1,680,581 shares of the technology company's stock worth $68,921,000 after purchasing an additional 278,744 shares during the period. Institutional investors own 94.73% of the company's stock.

ACI Worldwide Stock Performance

NASDAQ ACIW opened at $52.24 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 23.96 and a beta of 0.97. The firm's 50 day simple moving average is $51.70 and its 200 day simple moving average is $45.33. ACI Worldwide, Inc. has a 1 year low of $38.05 and a 1 year high of $61.08.

Analyst Ratings Changes

ACIW has been the subject of several recent research reports. DA Davidson set a $66.00 price target on ACI Worldwide and gave the company a "buy" rating in a research note on Friday. Weiss Ratings upgraded ACI Worldwide from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. Wall Street Zen cut ACI Worldwide from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Zacks Research upgraded ACI Worldwide from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, ACI Worldwide has a consensus rating of "Hold" and a consensus target price of $66.00.

ACI Worldwide Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source