ACI Worldwide, Inc. (NASDAQ:ACIW) Shares Sold by North Star Asset Management Inc.

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. lessened its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 667,876 shares of the technology company's stock after selling 18,524 shares during the quarter. ACI Worldwide accounts for approximately 1.7% of North Star Asset Management Inc.'s holdings, making the stock its 14th biggest holding. North Star Asset Management Inc. owned approximately 0.64% of ACI Worldwide worth $36,539,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of ACI Worldwide during the 4th quarter worth approximately $75,868,000. Geode Capital Management LLC grew its holdings in shares of 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 worth $154,095,000 after purchasing an additional 459,821 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in ACI Worldwide by 160.4% in the fourth quarter. Ameriprise Financial Inc. now owns 674,799 shares of the technology company's stock valued at $35,027,000 after acquiring an additional 415,612 shares during the last quarter. Bank of America Corp DE lifted its stake in ACI Worldwide by 267.7% in the fourth quarter. Bank of America Corp DE now owns 563,335 shares of the technology company's stock valued at $29,243,000 after buying an additional 410,142 shares during the period. Finally, North Reef Capital Management LP raised its position in shares of ACI Worldwide by 18.3% during the fourth quarter. North Reef Capital Management LP now owns 2,141,000 shares of the technology company's stock worth $111,139,000 after purchasing an additional 331,000 shares during the period. Institutional investors own 94.74% of the company's stock.

Insider Activity

In other news, Director Janet O. Estep sold 4,500 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $44.66, for a total value of $200,970.00. Following the sale, the director directly owned 77,631 shares in the company, valued at approximately $3,467,000.46. This represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas W. Warsop III purchased 5,000 shares of ACI Worldwide stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $48.57 per share, for a total transaction of $242,850.00. Following the completion of the acquisition, the chief executive officer owned 326,922 shares of the company's stock, valued at approximately $15,878,601.54. This trade represents a 1.55% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

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

ACI Worldwide Stock Performance

ACI Worldwide stock traded up $0.07 during mid-day trading on Wednesday, reaching $43.71. 787,160 shares of the stock traded hands, compared to its average volume of 677,600. The business's 50-day moving average is $45.63 and its 200-day moving average is $50.07. ACI Worldwide, Inc. has a 12-month low of $41.79 and a 12-month high of $59.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $4.59 billion, a PE ratio of 17.21 and a beta of 1.06.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. ACI Worldwide had a return on equity of 20.94% and a net margin of 16.12%. The firm had revenue of $394.57 million during the quarter, compared to analysts' expectations of $364.36 million. During the same quarter last year, the business posted $0.10 earnings per share. The firm's revenue was up 24.9% on a year-over-year basis. As a group, sell-side analysts predict that ACI Worldwide, Inc. will post 2 EPS for the current fiscal year.

About ACI Worldwide

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.