Bank of America Corp DE Lowers Stake in ACI Worldwide, Inc. $ACIW

Key Points

• Bank of America reduced its ACI Worldwide stake by 8.0% in the first quarter, selling 51,532 shares and retaining 594,285 shares worth approximately $24.4 million. Institutional investors collectively own 94.73% of the company.
• Other major investors, including Janus Henderson, Amundi, EverSource Wealth Advisors and California State Teachers Retirement System, increased their positions. Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $66.
• ACI Worldwide shares opened at $52.13, versus a 52-week range of $38.05 to $61.08. The company has a market capitalization of about $5.26 billion and a P/E ratio of 23.91.

Bank of America Corp DE decreased its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 8.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 594,285 shares of the technology company's stock after selling 51,532 shares during the period. Bank of America Corp DE owned 0.58% of ACI Worldwide worth $24,372,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Janus Henderson Group PLC raised its stake in ACI Worldwide by 72.3% during the first quarter. Janus Henderson Group PLC now owns 328,864 shares of the technology company's stock valued at $13,487,000 after buying an additional 138,001 shares during the last quarter. Amundi increased its holdings in ACI Worldwide by 79.7% in the 1st quarter. Amundi now owns 58,680 shares of the technology company's stock worth $2,406,000 after buying an additional 26,026 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in ACI Worldwide by 47.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,388 shares of the technology company's stock worth $57,000 after purchasing an additional 444 shares during the last quarter. California State Teachers Retirement System raised its stake in ACI Worldwide by 25.9% during the 1st quarter. California State Teachers Retirement System now owns 122,760 shares of the technology company's stock valued at $5,034,000 after buying an additional 25,254 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of ACI Worldwide during the 1st quarter valued at $440,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACIW has been the subject of a number of recent research reports. Weiss Ratings upgraded ACI Worldwide from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. DA Davidson set a $66.00 price target on ACI Worldwide and gave the company a "buy" rating in a report on Friday, August 7th. Wall Street Zen downgraded ACI Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded ACI Worldwide from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $66.00.

ACI Worldwide Stock Performance

Shares of NASDAQ ACIW opened at $52.13 on Tuesday. ACI Worldwide, Inc. has a 52-week low of $38.05 and a 52-week high of $61.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.58 and a current ratio of 1.58. The firm's fifty day moving average is $52.55 and its two-hundred day moving average is $45.57. The company has a market cap of $5.26 billion, a P/E ratio of 23.91 and a beta of 0.97.

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.

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