JPMorgan Chase & Co. Buys 69,964 Shares of ACI Worldwide, Inc. $ACIW

Key Points

• JPMorgan Chase & Co. increased its stake in ACI Worldwide by 39% in Q3, buying 69,964 shares to hold 249,533 shares (about 0.24%) valued at roughly $13.17 million.
• ACI's quarterly results showed an EPS miss of $0.90 vs. $1.05 expected, while revenue beat at $481.6 million (up 6.3% year-over-year).
• Insider buying: Directors Adalio T. Sanchez and Juan Benitez II purchased 3,000 and 2,400 shares respectively (around $41 per share), increasing their stakes and leaving insiders with about 1.10% ownership.

JPMorgan Chase & Co. grew its stake in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 39.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 249,533 shares of the technology company's stock after purchasing an additional 69,964 shares during the period. JPMorgan Chase & Co. owned approximately 0.24% of ACI Worldwide worth $13,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACIW. Steward Partners Investment Advisory LLC lifted its position in ACI Worldwide by 106.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 627 shares of the technology company's stock worth $29,000 after buying an additional 323 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of ACI Worldwide by 51.9% in the third 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. Advisors Asset Management Inc. lifted its holdings in shares of ACI Worldwide by 68.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 733 shares of the technology company's stock worth $34,000 after acquiring an additional 298 shares during the last quarter. State of Wyoming purchased a new position in shares of ACI Worldwide during the 2nd quarter worth about $37,000. Finally, Salomon & Ludwin LLC bought a new position in ACI Worldwide during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered ACI Worldwide from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.00.

Insider Buying and Selling at ACI Worldwide

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

ACI Worldwide Price Performance

ACI Worldwide stock opened at $42.44 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 19.56 and a beta of 1.07. The firm has a 50-day moving average of $43.28 and a two-hundred day moving average of $47.02. ACI Worldwide, Inc. has a 1 year low of $38.05 and a 1 year high of $57.49.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last issued its earnings results on Thursday, February 26th. The technology company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.15). The company had revenue of $481.60 million for the quarter, compared to analysts' expectations of $465.20 million. ACI Worldwide had a return on equity of 16.44% and a net margin of 12.88%.The business's revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share. On average, research analysts forecast that ACI Worldwide, Inc. will post 2 earnings per share for the current 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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