Convergence Investment Partners LLC Reduces Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Convergence Investment Partners LLC trimmed its stake in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 46.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,833 shares of the technology company's stock after selling 26,398 shares during the quarter. Convergence Investment Partners LLC's holdings in ACI Worldwide were worth $1,687,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of ACI Worldwide in the first quarter valued at $6,175,000. Gallacher Capital Management LLC bought a new position in shares of ACI Worldwide in the first quarter valued at $316,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of ACI Worldwide by 34.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 51,125 shares of the technology company's stock valued at $2,798,000 after buying an additional 13,100 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of ACI Worldwide by 242.6% in the first quarter. IFP Advisors Inc now owns 11,272 shares of the technology company's stock valued at $617,000 after buying an additional 7,982 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of ACI Worldwide during the first quarter valued at about $226,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Trading Down 0.3%

NASDAQ ACIW traded down $0.15 on Friday, hitting $44.80. 849,541 shares of the stock were exchanged, compared to its average volume of 635,203. The firm has a market capitalization of $4.70 billion, a P/E ratio of 17.64 and a beta of 1.06. ACI Worldwide, Inc. has a 52-week low of $41.79 and a 52-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 fifty day moving average price of $45.85 and a two-hundred day moving average price of $50.23.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. DA Davidson raised shares of ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 target price on the stock in a research report on Monday, May 12th. Stephens raised shares of ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 price objective on the stock in a research report on Thursday, July 17th. Finally, Jefferies Financial Group cut their price objective on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $60.00.

Insider Activity at ACI Worldwide

In other ACI Worldwide news, CEO Thomas W. Warsop III purchased 5,000 shares of the company's stock in a transaction dated 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 completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary P. Harman sold 7,194 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $47.48, for a total value of $341,571.12. Following the sale, the director owned 34,388 shares in the company, valued at $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 corporate insiders.

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.