North Reef Capital Management LP Buys 260,000 Shares of ACI Worldwide, Inc. $ACIW

Key Points

• North Reef Capital Management increased its stake in ACI Worldwide by 13.2% in the first quarter, buying 260,000 more shares and bringing its total holding to 2.23 million shares, or about 2.19% of the company.
• ACI Worldwide reported strong quarterly results, with EPS of $0.61 beating estimates of $0.45 and revenue of $425.75 million topping expectations; revenue rose 7.9% year over year.
• Analysts are generally cautious but optimistic: the stock has a consensus Hold rating, though DA Davidson raised its price target to $64 and some firms upgraded their views.

North Reef Capital Management LP grew its stake in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 13.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,230,000 shares of the technology company's stock after buying an additional 260,000 shares during the quarter. ACI Worldwide accounts for approximately 3.1% of North Reef Capital Management LP's portfolio, making the stock its 10th biggest position. North Reef Capital Management LP owned approximately 2.19% of ACI Worldwide worth $91,452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allworth Financial LP increased its stake in shares of ACI Worldwide by 93.5% during the third quarter. Allworth Financial LP now owns 532 shares of the technology company's stock worth $28,000 after buying an additional 257 shares during the period. Farther Finance Advisors LLC lifted its stake in ACI Worldwide by 226.8% in the fourth quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company's stock worth $26,000 after acquiring an additional 372 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in ACI Worldwide during the 4th quarter worth approximately $37,000. State of Wyoming acquired a new position in ACI Worldwide during the 2nd quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. increased its position in shares of ACI Worldwide by 73.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 872 shares of the technology company's stock valued at $48,000 after purchasing an additional 370 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

ACI Worldwide Stock Up 3.3%

Shares of NASDAQ:ACIW opened at $56.31 on Friday. The firm has a 50 day simple moving average of $48.43 and a 200-day simple moving average of $44.34. ACI Worldwide, Inc. has a twelve month low of $38.05 and a twelve month high of $60.17. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.72 billion, a PE ratio of 28.30 and a beta of 0.98.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last posted its 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. ACI Worldwide had a net margin of 11.51% and a return on equity of 16.76%. The firm had revenue of $425.75 million for the quarter, compared to the consensus estimate of $410.08 million. During the same period last year, the firm posted $0.51 EPS. The company's revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that ACI Worldwide, Inc. will post 2.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

ACI Worldwide Profile

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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