ACI Worldwide, Inc. (NASDAQ:ACIW) Shares Sold by Fiera Capital Corp

Key Points

• Fiera Capital Corp reduced its stake in ACI Worldwide, Inc. by 22.9%, selling 194,518 shares, leaving them with 653,944 shares valued at approximately $35.8 million.
• CEO Thomas W. Warsop III purchased 5,000 shares of ACI Worldwide for a total of $242,850, increasing his ownership by 1.55%.
• Research analysts have given ACI Worldwide a consensus rating of "Buy", with a target price of $60.00, following several rating upgrades from different firms.

Fiera Capital Corp lowered its position in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 22.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 653,944 shares of the technology company's stock after selling 194,518 shares during the period. Fiera Capital Corp owned approximately 0.62% of ACI Worldwide worth $35,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACIW. Norges Bank purchased a new position in shares of ACI Worldwide in the 4th quarter worth approximately $75,868,000. Geode Capital Management LLC grew its position in shares of ACI Worldwide by 18.4% in the 4th quarter. Geode Capital Management LLC now owns 2,962,449 shares of the technology company's stock worth $154,095,000 after buying an additional 459,821 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of ACI Worldwide by 160.4% in the 4th quarter. Ameriprise Financial Inc. now owns 674,799 shares of the technology company's stock worth $35,027,000 after buying an additional 415,612 shares during the last quarter. Bank of America Corp DE grew its position in shares of ACI Worldwide by 267.7% in the 4th quarter. Bank of America Corp DE now owns 563,335 shares of the technology company's stock worth $29,243,000 after buying an additional 410,142 shares during the last quarter. Finally, North Reef Capital Management LP grew its position in shares of ACI Worldwide by 18.3% in the 4th quarter. North Reef Capital Management LP now owns 2,141,000 shares of the technology company's stock worth $111,139,000 after buying an additional 331,000 shares during the last quarter. Hedge funds and other institutional investors own 94.74% of the company's stock.

ACI Worldwide Stock Performance

NASDAQ ACIW traded down $1.82 on Friday, hitting $40.74. 1,156,636 shares of the company's stock traded hands, compared to its average volume of 700,744. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55. ACI Worldwide, Inc. has a 1-year low of $40.45 and a 1-year high of $59.71. The firm's 50-day moving average price is $45.44 and its two-hundred day moving average price is $49.93. The firm has a market capitalization of $4.27 billion, a PE ratio of 16.04 and a beta of 1.07.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.33 by $0.18. ACI Worldwide had a net margin of 16.12% and a return on equity of 20.94%. The business had revenue of $394.57 million during the quarter, compared to analysts' expectations of $364.36 million. During the same period in the previous year, the business posted $0.10 EPS. The business's quarterly revenue was up 24.9% compared to the same quarter last year. As a group, analysts expect that ACI Worldwide, Inc. will post 2 EPS for the current year.

Insider Buying and Selling at ACI Worldwide

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACIW. Wall Street Zen raised shares of ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Jefferies Financial Group lowered their target price on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. 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 research note on Monday, May 12th. Finally, Stephens upgraded shares of ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 target price for the company in a research note on Thursday, July 17th. One equities 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. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average 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.