Edgestream Partners L.P. Decreases Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Edgestream Partners L.P. cut its position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 51.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,879 shares of the technology company's stock after selling 43,923 shares during the quarter. Edgestream Partners L.P.'s holdings in ACI Worldwide were worth $2,291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in shares of ACI Worldwide in the first quarter worth $25,000. Covestor Ltd raised its stake in shares of ACI Worldwide by 239.4% in the fourth quarter. Covestor Ltd now owns 594 shares of the technology company's stock worth $31,000 after purchasing an additional 419 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of ACI Worldwide in the first quarter worth $39,000. Versant Capital Management Inc raised its stake in shares of ACI Worldwide by 121.3% in the first quarter. Versant Capital Management Inc now owns 885 shares of the technology company's stock worth $48,000 after purchasing an additional 485 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of ACI Worldwide by 278.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,899 shares of the technology company's stock worth $99,000 after purchasing an additional 1,397 shares during the last quarter. 94.74% of the stock is currently owned by institutional investors.

ACI Worldwide Stock Performance

NASDAQ:ACIW traded down $0.36 during mid-day trading on Friday, hitting $45.34. 480,714 shares of the company traded hands, compared to its average volume of 725,180. The stock's fifty day moving average price is $46.22 and its 200-day moving average price is $50.45. ACI Worldwide, Inc. has a one year low of $40.94 and a one year high of $59.71. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 17.85 and a beta of 1.06.

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

Analyst Upgrades and Downgrades

ACIW has been the subject of a number of research reports. Stephens upgraded ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 price objective for the company in a research report on Thursday. Wall Street Zen upgraded ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Jefferies Financial Group reduced their price objective on 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, DA Davidson upgraded ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 price objective for the company in a research report on Monday, May 12th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ACI Worldwide currently has a consensus rating of "Buy" and a consensus price target of $60.00.

Insider Transactions at ACI Worldwide

In other news, Director Janet O. Estep sold 4,500 shares of the company's stock in a transaction dated 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 owned 77,631 shares of the company's stock, valued at $3,467,000.46. This represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas W. Warsop III acquired 5,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $48.57 per share, with a total value of $242,850.00. Following the purchase, the chief executive officer owned 326,922 shares of the company's stock, valued at approximately $15,878,601.54. This trade represents a 1.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

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.