Hsbc Holdings PLC Sells 175,993 Shares of ACI Worldwide, Inc. $ACIW

Key Points

• Hsbc Holdings PLC cut its ACI Worldwide stake by 83.8% in the first quarter, selling 175,993 shares and retaining 34,123 shares worth approximately $1.4 million.
• ACI Worldwide reported quarterly EPS of $0.61, beating estimates of $0.45, while revenue rose 7.9% year over year to $425.75 million.
• Shares opened at $57.88, near their 52-week high of $60.17. Analysts maintain an average “Hold” rating with a $64 price target, although DA Davidson and Wall Street Zen upgraded the stock to “Buy.”

Hsbc Holdings PLC decreased its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 83.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,123 shares of the technology company's stock after selling 175,993 shares during the quarter. Hsbc Holdings PLC's holdings in ACI Worldwide were worth $1,395,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Jefferson Bridge Capital LLC purchased a new position in ACI Worldwide in the 4th quarter worth approximately $1,176,000. Hillsdale Investment Management Inc. raised its position in shares of ACI Worldwide by 27.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 166,400 shares of the technology company's stock valued at $7,956,000 after buying an additional 35,700 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of ACI Worldwide during the 4th quarter valued at $3,290,000. UBS Group AG lifted its holdings in shares of ACI Worldwide by 30.8% during the 4th quarter. UBS Group AG now owns 299,135 shares of the technology company's stock worth $14,302,000 after acquiring an additional 70,401 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of ACI Worldwide during the 4th quarter worth $5,909,000. 94.73% of the stock is currently owned by institutional investors.

ACI Worldwide Price Performance

Shares of ACI Worldwide stock opened at $57.88 on Tuesday. ACI Worldwide, Inc. has a 52-week low of $38.05 and a 52-week high of $60.17. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 29.09 and a beta of 0.98. The company has a fifty day moving average of $48.73 and a 200-day moving average of $44.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 1.53.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.16. The company had revenue of $425.75 million for the quarter, compared to analysts' expectations of $410.08 million. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. Equities research analysts expect that ACI Worldwide, Inc. will post 2.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research raised ACI Worldwide from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Weiss Ratings raised ACI Worldwide from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. Wall Street Zen upgraded ACI Worldwide from a "hold" rating to a "buy" rating in a report on Saturday. Finally, DA Davidson increased their price objective on ACI Worldwide from $60.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $64.00.

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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