Man Group plc Grows Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Man Group plc boosted its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 1,001.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,486 shares of the technology company's stock after purchasing an additional 54,995 shares during the period. Man Group plc owned about 0.06% of ACI Worldwide worth $3,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ACIW. Norges Bank purchased a new position in ACI Worldwide during the fourth quarter valued at $75,868,000. Congress Asset Management Co. purchased a new position in ACI Worldwide during the fourth quarter valued at $55,998,000. American Century Companies Inc. lifted its position in ACI Worldwide by 206.2% during the fourth quarter. American Century Companies Inc. now owns 1,005,479 shares of the technology company's stock valued at $52,194,000 after purchasing an additional 677,143 shares in the last quarter. Geode Capital Management LLC lifted its position in ACI Worldwide by 18.4% during 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 in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in ACI Worldwide by 160.4% during the fourth quarter. Ameriprise Financial Inc. now owns 674,799 shares of the technology company's stock valued at $35,027,000 after purchasing an additional 415,612 shares in the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

ACI Worldwide Price Performance

Shares of ACI Worldwide stock opened at $46.47 on Friday. The stock's 50-day simple moving average is $51.79 and its 200-day simple moving average is $53.05. ACI Worldwide, Inc. has a 52 week low of $33.32 and a 52 week high of $59.71. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 22.02 and a beta of 1.14. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last posted its 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. The company had revenue of $394.57 million for the quarter, compared to the consensus estimate of $364.36 million. ACI Worldwide had a return on equity of 21.67% and a net margin of 14.04%. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. As a group, analysts expect that ACI Worldwide, Inc. will post 2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles E. Peters, Jr. sold 12,940 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $57.57, for a total value of $744,955.80. Following the sale, the director now directly owns 80,842 shares in the company, valued at approximately $4,654,073.94. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas W. Warsop III bought 5,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $48.57 per share, for a total transaction of $242,850.00. Following the completion of the transaction, the chief executive officer now directly owns 326,922 shares of the company's stock, valued at $15,878,601.54. This represents a 1.55% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ACIW. DA Davidson upgraded ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 price objective on the stock in a research report on Monday, May 12th. Wall Street Zen upgraded ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, ACI Worldwide presently has an average rating of "Moderate Buy" and an average target price 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.

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