Bank of America Corp DE Buys 410,142 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Bank of America Corp DE increased its stake in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 267.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 563,335 shares of the technology company's stock after purchasing an additional 410,142 shares during the quarter. Bank of America Corp DE owned approximately 0.54% of ACI Worldwide worth $29,243,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ACIW. Vanguard Group Inc. grew its stake in ACI Worldwide by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 13,863,463 shares of the technology company's stock valued at $719,652,000 after buying an additional 189,980 shares in the last quarter. Hood River Capital Management LLC grew its stake in ACI Worldwide by 3.1% in the 4th quarter. Hood River Capital Management LLC now owns 3,374,507 shares of the technology company's stock valued at $175,171,000 after buying an additional 100,311 shares in the last quarter. Geode Capital Management LLC grew 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 buying an additional 459,821 shares in the last quarter. North Reef Capital Management LP grew its stake in ACI Worldwide by 18.3% in the 4th quarter. North Reef Capital Management LP now owns 2,141,000 shares of the technology company's stock valued at $111,139,000 after buying an additional 331,000 shares in the last quarter. Finally, Invesco Ltd. grew its stake in ACI Worldwide by 8.5% in the 4th 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 in the last quarter. Institutional investors own 94.74% of the company's stock.

Insider Activity

In related news, CEO Thomas W. Warsop III bought 5,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $48.57 per share, for a total transaction of $242,850.00. Following the completion of the transaction, the chief executive officer now owns 326,922 shares of the company's stock, valued at approximately $15,878,601.54. The trade was a 1.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles E. Peters, Jr. sold 12,940 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $57.57, for a total transaction of $744,955.80. Following the completion of the transaction, the director now owns 80,842 shares of the company's stock, valued at $4,654,073.94. This trade represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

ACIW has been the subject of a number of recent research reports. DA Davidson upgraded shares of ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 price objective for the company in a research note on Monday, May 12th. StockNews.com upgraded shares of ACI Worldwide from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $60.00.

ACI Worldwide Stock Up 0.2%

ACIW opened at $48.87 on Friday. The company has a fifty day moving average price of $52.19 and a 200-day moving average price of $53.14. The firm has a market capitalization of $5.13 billion, a P/E ratio of 23.16 and a beta of 1.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 1.56. ACI Worldwide, Inc. has a one year low of $33.32 and a one year high of $59.71.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.18. The firm had revenue of $394.57 million during the quarter, compared to analyst estimates of $364.36 million. ACI Worldwide had a net margin of 14.04% and a return on equity of 21.67%. The business's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. Equities research analysts expect that ACI Worldwide, Inc. will post 2 earnings per share for the current fiscal 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.

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