Mackenzie Financial Corp Increases Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Key Points

• Mackenzie Financial Corp increased its stake in ACI Worldwide by 66.5%, owning 150,533 shares worth $8,236,000 at the end of Q1.
• Research analysts rate ACI Worldwide as "Buy" on average, with a price target of $60.00, despite Jefferies Financial Group lowering its price objective from $68.00 to $60.00.
• ACI Worldwide's stock has decreased by 4.3% recently, trading at $40.74, with a notable 24.9% year-over-year revenue growth reported in its latest earnings.

Mackenzie Financial Corp boosted its stake in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 66.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,533 shares of the technology company's stock after acquiring an additional 60,096 shares during the period. Mackenzie Financial Corp owned 0.14% of ACI Worldwide worth $8,236,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC raised its position in shares of ACI Worldwide by 13.5% in the fourth quarter. LPL Financial LLC now owns 31,132 shares of the technology company's stock valued at $1,616,000 after purchasing an additional 3,698 shares during the period. JPMorgan Chase & Co. raised its position in shares of ACI Worldwide by 109.1% in the fourth quarter. JPMorgan Chase & Co. now owns 539,572 shares of the technology company's stock valued at $28,009,000 after purchasing an additional 281,562 shares during the period. Norges Bank bought a new stake in shares of ACI Worldwide in the fourth quarter valued at approximately $75,868,000. Pictet Asset Management Holding SA raised its position in shares of ACI Worldwide by 23.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 17,267 shares of the technology company's stock valued at $896,000 after purchasing an additional 3,264 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of ACI Worldwide by 18.4% in the fourth quarter. Geode Capital Management LLC now owns 2,962,449 shares of the technology company's stock valued at $154,095,000 after purchasing an additional 459,821 shares during the period. Institutional investors own 94.74% of the company's stock.

Insiders Place Their Bets

In other ACI Worldwide news, Director Mary P. Harman sold 7,194 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $47.48, for a total value of $341,571.12. Following the completion of the transaction, the director owned 34,388 shares of the company's stock, valued at $1,632,742.24. The trade was a 17.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas W. Warsop III purchased 5,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was bought 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 in the company, valued at approximately $15,878,601.54. This 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.

Analysts Set New Price Targets

Several research firms 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. DA Davidson raised shares of ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 target price on the stock in a report on Monday, May 12th. Jefferies Financial Group decreased their target price on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Finally, Stephens raised shares of ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 target price on the stock in a report on Thursday, July 17th.

ACI Worldwide Price Performance

ACI Worldwide stock traded up $0.38 during midday trading on Monday, reaching $41.12. 149,577 shares of the stock were exchanged, compared to its average volume of 728,406. The company's fifty day moving average is $45.44 and its 200-day moving average is $49.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $4.31 billion, a PE ratio of 16.24 and a beta of 1.07. ACI Worldwide, Inc. has a 52 week low of $40.45 and a 52 week high of $59.71.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.51 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the company earned $0.10 EPS. The business's quarterly revenue was up 24.9% compared to the same quarter last year. On average, sell-side analysts forecast that ACI Worldwide, Inc. will post 2 EPS for the current year.

ACI Worldwide 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.