Hillsdale Investment Management Inc. Acquires 35,700 Shares of ACI Worldwide, Inc. $ACIW

Key Points

• Hillsdale Investment Management boosted its stake in ACI Worldwide by 27.3% in the fourth quarter, adding 35,700 shares to bring its total holdings to 166,400 shares valued at about $7.96 million.
• Several other institutional investors also increased or initiated positions, and institutional ownership remains high at 94.73% of ACI Worldwide’s stock.
• ACI Worldwide’s latest quarterly results topped expectations, with EPS of $0.61 versus the $0.45 estimate and revenue of $425.75 million, while analysts currently hold a consensus rating of “Hold” with a $60 price target.

Hillsdale Investment Management Inc. raised its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 27.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,400 shares of the technology company's stock after acquiring an additional 35,700 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.16% of ACI Worldwide worth $7,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in ACI Worldwide by 226.8% during the 4th quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company's stock valued at $26,000 after acquiring an additional 372 shares during the period. Allworth Financial LP raised its holdings in ACI Worldwide by 93.5% during the 3rd quarter. Allworth Financial LP now owns 532 shares of the technology company's stock valued at $28,000 after acquiring an additional 257 shares during the period. Bessemer Group Inc. raised its holdings in ACI Worldwide by 51.9% during the 3rd quarter. Bessemer Group Inc. now owns 626 shares of the technology company's stock valued at $32,000 after acquiring an additional 214 shares during the period. Eagle Bay Advisors LLC purchased a new position in shares of ACI Worldwide during the 4th quarter valued at $37,000. Finally, State of Wyoming purchased a new position in shares of ACI Worldwide during the 2nd quarter valued at $37,000. Institutional investors own 94.73% of the company's stock.

Insider Buying and Selling at ACI Worldwide

In related news, Director Juan Benitez II bought 2,400 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average cost of $41.90 per share, for a total transaction of $100,560.00. Following the completion of the transaction, the director owned 16,881 shares of the company's stock, valued at approximately $707,313.90. The trade was a 16.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Adalio T. Sanchez bought 3,000 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average price of $40.98 per share, with a total value of $122,940.00. Following the completion of the transaction, the director directly owned 64,378 shares of the company's stock, valued at $2,638,210.44. This represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ACIW. DA Davidson restated a "buy" rating and set a $60.00 price target on shares of ACI Worldwide in a research report on Monday, May 11th. Weiss Ratings lowered shares of ACI Worldwide from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Finally, Zacks Research lowered shares of ACI Worldwide from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $60.00.

ACI Worldwide Stock Up 3.0%

ACIW opened at $43.67 on Friday. The company has a fifty day moving average price of $42.20 and a 200-day moving average price of $43.63. The firm has a market capitalization of $4.44 billion, a P/E ratio of 21.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.53 and a quick ratio of 1.53. ACI Worldwide, Inc. has a one year low of $38.05 and a one year high of $54.28.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.16. The firm had revenue of $425.75 million during the quarter, compared to analyst estimates of $410.08 million. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 EPS. Equities research analysts expect that ACI Worldwide, Inc. will post 2.53 earnings per share for the current fiscal year.

About ACI Worldwide

ACI Worldwide NASDAQ: ACIW is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company's platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI's modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.

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