ACI Worldwide, Inc. (NASDAQ:ACIW) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. grew its holdings in 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 acquiring an additional 102,087 shares during the period. Congress Asset Management Co. owned about 1.12% of ACI Worldwide worth $64,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ironwood Investment Management LLC boosted its holdings in ACI Worldwide by 0.8% in the fourth quarter. Ironwood Investment Management LLC now owns 30,151 shares of the technology company's stock valued at $1,565,000 after purchasing an additional 227 shares during the last quarter. Snowden Capital Advisors LLC lifted its holdings in shares of ACI Worldwide by 3.2% in the 4th quarter. Snowden Capital Advisors LLC now owns 8,048 shares of the technology company's stock valued at $418,000 after buying an additional 246 shares during the period. Corient Private Wealth LLC boosted its stake in shares of ACI Worldwide by 5.0% in the fourth quarter. Corient Private Wealth LLC now owns 5,638 shares of the technology company's stock worth $293,000 after buying an additional 267 shares during the last quarter. Blue Trust Inc. grew its holdings in ACI Worldwide by 104.9% during the fourth quarter. Blue Trust Inc. now owns 582 shares of the technology company's stock worth $30,000 after acquiring an additional 298 shares during the period. Finally, Summit Investment Advisors Inc. raised its position in ACI Worldwide by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,034 shares of the technology company's stock valued at $573,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 94.74% of the company's stock.

ACI Worldwide Price Performance

Shares of ACIW traded down $0.41 during mid-day trading on Tuesday, hitting $47.38. 742,988 shares of the company were exchanged, compared to its average volume of 737,355. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 22.46 and a beta of 1.07. ACI Worldwide, Inc. has a 1-year low of $34.04 and a 1-year high of $59.71. The company has a 50 day moving average of $49.75 and a 200-day moving average of $52.22. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.56 and a current ratio of 1.56.

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

Insider Activity

In other ACI Worldwide news, CEO Thomas W. Warsop III purchased 5,000 shares of the stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $48.57 per share, for a total transaction of $242,850.00. Following the acquisition, the chief executive officer now owns 326,922 shares in the company, valued at $15,878,601.54. This trade represents a 1.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ACIW shares. DA Davidson raised shares of 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 dropped their price objective on ACI Worldwide from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Finally, Wall Street Zen upgraded ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

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.