ACI Worldwide, Inc. (NASDAQ:ACIW) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in ACI Worldwide by 185.7%, now owning 91,407 shares valued at approximately $5 million.
• A number of hedge funds, including LPL Financial and Envestnet Asset Management, have also raised their stakes in ACI Worldwide, indicating strong institutional interest with 94.74% of the company's stock owned by institutional investors.
• ACI Worldwide reported earnings per share of $0.35 for the recent quarter, surpassing estimates, while its revenue increased by 7.4% year-over-year.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 185.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,407 shares of the technology company's stock after buying an additional 59,410 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of ACI Worldwide worth $5,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC increased its holdings in ACI Worldwide by 13.5% in the 4th quarter. LPL Financial LLC now owns 31,132 shares of the technology company's stock valued at $1,616,000 after purchasing an additional 3,698 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in ACI Worldwide by 21.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 214,278 shares of the technology company's stock valued at $11,123,000 after purchasing an additional 37,584 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in ACI Worldwide by 1.0% in the 4th quarter. Russell Investments Group Ltd. now owns 72,703 shares of the technology company's stock valued at $3,774,000 after purchasing an additional 719 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in ACI Worldwide in the 4th quarter valued at approximately $5,292,000. Finally, Covestor Ltd increased its holdings in ACI Worldwide by 239.4% in the 4th quarter. Covestor Ltd now owns 594 shares of the technology company's stock valued at $31,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 94.74% of the company's stock.

ACI Worldwide Stock Down 0.1%

ACIW stock traded down $0.05 during midday trading on Friday, hitting $46.56. The company's stock had a trading volume of 763,641 shares, compared to its average volume of 934,760. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.62. ACI Worldwide, Inc. has a 52-week low of $40.45 and a 52-week high of $59.71. The firm has a market capitalization of $4.80 billion, a P/E ratio of 19.65 and a beta of 1.07. The firm has a 50-day simple moving average of $45.04 and a 200-day simple moving average of $49.31.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The business had revenue of $401.26 million during the quarter, compared to analysts' expectations of $380.45 million. ACI Worldwide had a net margin of 14.76% and a return on equity of 19.09%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 EPS. As a group, equities analysts forecast that ACI Worldwide, Inc. will post 2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ACIW shares. Wall Street Zen downgraded shares of ACI Worldwide from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. DA Davidson upgraded shares of ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 target price for the company in a report on Monday, May 12th. Jefferies Financial Group decreased their price target on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Finally, Stephens raised shares of ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 price target for the company in a research report on Thursday, July 17th.

Insider Buying and Selling at ACI Worldwide

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

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.