Choreo LLC Cuts Stock Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Choreo LLC lessened its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 51.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in ACI Worldwide during the first quarter worth $25,000. Covestor Ltd boosted its stake in ACI Worldwide by 239.4% during the fourth quarter. Covestor Ltd now owns 594 shares of the technology company's stock worth $31,000 after buying an additional 419 shares during the last quarter. Wayfinding Financial LLC acquired a new position in ACI Worldwide during the first quarter worth $39,000. Versant Capital Management Inc boosted its stake in ACI Worldwide by 121.3% during the first quarter. Versant Capital Management Inc now owns 885 shares of the technology company's stock worth $48,000 after buying an additional 485 shares during the last quarter. Finally, Archer Investment Corp acquired a new position in ACI Worldwide during the first quarter worth $159,000. Hedge funds and other institutional investors own 94.74% of the company's stock.

Insider Buying and Selling

In related news, Director Janet O. Estep sold 4,500 shares of ACI Worldwide stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $44.66, for a total value of $200,970.00. Following the completion of the transaction, the director directly owned 77,631 shares in the company, valued at approximately $3,467,000.46. This trade represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary P. Harman sold 7,194 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $47.48, for a total value of $341,571.12. Following the completion of the sale, the director directly owned 34,388 shares in the company, valued at $1,632,742.24. This represents a 17.30% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ACIW. 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. 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 note 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, July 17th. 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ACI Worldwide presently has a consensus rating of "Buy" and an average target price of $60.00.

ACI Worldwide Stock Performance

NASDAQ:ACIW opened at $44.52 on Tuesday. The company has a 50 day moving average price of $45.75 and a 200 day moving average price of $50.16. ACI Worldwide, Inc. has a fifty-two week low of $41.79 and a fifty-two week high of $59.71. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $4.67 billion, a P/E ratio of 17.53 and a beta of 1.06.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last posted its 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 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 company earned $0.10 EPS. ACI Worldwide's revenue was up 24.9% on a year-over-year basis. Equities research analysts forecast that ACI Worldwide, Inc. will post 2 EPS 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.

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