Choreo LLC Sells 7,406 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Choreo LLC trimmed its position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 51.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,056 shares of the technology company's stock after selling 7,406 shares during the period. Choreo LLC's holdings in ACI Worldwide were worth $386,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its position in ACI Worldwide by 11.9% in the fourth quarter. Barclays PLC now owns 253,061 shares of the technology company's stock worth $13,136,000 after purchasing an additional 26,888 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ACI Worldwide by 4,756.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,601 shares of the technology company's stock worth $1,018,000 after buying an additional 18,218 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of ACI Worldwide by 2.3% in the first quarter. Principal Financial Group Inc. now owns 558,040 shares of the technology company's stock valued at $30,530,000 after purchasing an additional 12,534 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of ACI Worldwide by 24.5% in the first quarter. GAMMA Investing LLC now owns 3,266 shares of the technology company's stock valued at $179,000 after purchasing an additional 642 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of ACI Worldwide by 267.7% in the fourth quarter. Bank of America Corp DE now owns 563,335 shares of the technology company's stock valued at $29,243,000 after purchasing an additional 410,142 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group lowered their target price on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Stephens raised 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 report on Thursday, July 17th. DA Davidson raised shares of ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 price target on the stock in a research report on Monday, May 12th. Finally, Wall Street Zen raised shares of ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ACI Worldwide presently has an average rating of "Buy" and an average price target of $60.00.

ACI Worldwide Stock Performance

ACI Worldwide stock traded down $1.32 during trading hours on Friday, hitting $41.24. The company had a trading volume of 279,686 shares, compared to its average volume of 726,270. The firm has a market cap of $4.33 billion, a PE ratio of 16.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.50. ACI Worldwide, Inc. has a one year low of $40.86 and a one year high of $59.71. The firm has a 50-day moving average of $45.55 and a 200 day moving average of $50.01.

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

Insider Buying and Selling

In other news, CEO Thomas W. Warsop III purchased 5,000 shares of ACI Worldwide stock in a transaction that occurred on Monday, May 12th. The shares were 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 of the company's stock, valued at approximately $15,878,601.54. The trade was a 1.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mary P. Harman sold 7,194 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 of the company's stock, valued at approximately $1,632,742.24. The trade was a 17.30% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.