North Star Asset Management Inc. Lowers Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Key Points

• North Star Asset Management Inc. reduced its holdings in ACI Worldwide by 2.7% during the first quarter, now owning 667,876 shares valued at approximately $36.54 million.
• ACI Worldwide reported earnings of $0.51 per share, significantly exceeding analysts' expectations and showing a 24.9% increase in revenue year-over-year.
• Several institutional investors have increased their stakes in ACI Worldwide, with Norges Bank acquiring a new stake valued at $75.87 million in the fourth quarter.

North Star Asset Management Inc. cut its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 667,876 shares of the technology company's stock after selling 18,524 shares during the period. ACI Worldwide comprises about 1.7% of North Star Asset Management Inc.'s holdings, making the stock its 14th biggest holding. North Star Asset Management Inc. owned 0.64% of ACI Worldwide worth $36,539,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ACIW. Opal Wealth Advisors LLC acquired a new position in ACI Worldwide during the first quarter worth $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of ACI Worldwide during the first quarter worth $25,000. Covestor Ltd grew its holdings in shares of ACI Worldwide by 239.4% during the fourth quarter. Covestor Ltd now owns 594 shares of the technology company's stock worth $31,000 after buying an additional 419 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of ACI Worldwide during the first quarter worth $39,000. Finally, Versant Capital Management Inc grew its holdings in shares of ACI Worldwide by 121.3% during the first quarter. Versant Capital Management Inc now owns 885 shares of the technology company's stock worth $48,000 after buying an additional 485 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Trading Down 4.3%

Shares of ACIW traded down $1.82 during mid-day trading on Friday, reaching $40.74. The stock had a trading volume of 1,156,636 shares, compared to its average volume of 700,744. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.50. ACI Worldwide, Inc. has a 52-week low of $40.45 and a 52-week high of $59.71. The business's fifty day moving average is $45.44 and its 200 day moving average is $49.93. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 16.04 and a beta of 1.07.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $394.57 million during the quarter, compared to analyst estimates of $364.36 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. ACI Worldwide's quarterly revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts predict that ACI Worldwide, Inc. will post 2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ACIW. DA Davidson raised shares of ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 target price for the company in a report on Monday, May 12th. Stephens raised shares of ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 target price for the company in a report on Thursday, July 17th. Wall Street Zen raised shares of ACI Worldwide from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group dropped their target price on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $60.00.

Insiders Place Their Bets

In other ACI Worldwide news, Director Janet O. Estep sold 4,500 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $44.66, for a total transaction of $200,970.00. Following the completion of the transaction, the director owned 77,631 shares of the company's stock, valued at $3,467,000.46. This trade represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas W. Warsop III bought 5,000 shares of the stock in a transaction on Monday, May 12th. The shares were 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 of the company's stock, valued at $15,878,601.54. This trade represents a 1.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

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.