Congress Asset Management Co. Has $64.60 Million Stock Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Congress Asset Management Co. lifted its position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 9.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,180,839 shares of the technology company's stock after purchasing an additional 102,087 shares during the period. Congress Asset Management Co. owned 1.12% of ACI Worldwide worth $64,604,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of ACI Worldwide by 104.9% in the fourth quarter. Blue Trust Inc. now owns 582 shares of the technology company's stock valued at $30,000 after buying an additional 298 shares during the last quarter. Covestor Ltd increased its stake in ACI Worldwide by 239.4% during the 4th quarter. Covestor Ltd now owns 594 shares of the technology company's stock worth $31,000 after acquiring an additional 419 shares during the period. Versant Capital Management Inc boosted its holdings in shares of ACI Worldwide by 121.3% in the 1st quarter. Versant Capital Management Inc now owns 885 shares of the technology company's stock valued at $48,000 after purchasing an additional 485 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of ACI Worldwide by 278.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,899 shares of the technology company's stock valued at $99,000 after purchasing an additional 1,397 shares in the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of ACI Worldwide in the 4th quarter valued at $201,000. 94.74% of the stock is owned by institutional investors and hedge funds.

ACI Worldwide Stock Performance

ACIW stock opened at $47.30 on Friday. The stock has a 50-day moving average price of $50.06 and a 200-day moving average price of $52.37. ACI Worldwide, Inc. has a 1-year low of $33.32 and a 1-year high of $59.71. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4.96 billion, a PE ratio of 22.42 and a beta of 1.14.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last issued its 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. ACI Worldwide had a return on equity of 21.67% and a net margin of 14.04%. The business had revenue of $394.57 million during the quarter, compared to analyst estimates of $364.36 million. During the same period in the previous year, the company posted $0.10 EPS. The firm's revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts expect that ACI Worldwide, Inc. will post 2 earnings per share for the current year.

Insider Transactions at ACI Worldwide

In other ACI Worldwide news, CEO Thomas W. Warsop III acquired 5,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price 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. This represents a 1.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently 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 report on Monday, May 12th. Wall Street Zen raised ACI Worldwide from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group cut their target price on ACI Worldwide from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ACI Worldwide currently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

ACI Worldwide Company 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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