North Star Asset Management Inc. Makes New Investment in ACI Worldwide, Inc. $ACIW

Key Points

• North Star Asset Management acquired 579,211 shares of ACI Worldwide worth approximately $29.1 million, representing 0.57% of the company and 1.1% of the fund’s portfolio. Institutional investors collectively own 94.73% of ACIW.
• Analyst sentiment is broadly positive: ACI Worldwide has a consensus “Buy” rating and an average price target of $66, with recent upgrades from Zacks Research and Weiss Ratings.
• ACI Worldwide shares opened at $54.22, up 2.2%, while the company has a $5.47 billion market capitalization and a 52-week trading range of $38.05 to $61.08.

North Star Asset Management Inc. acquired a new stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 579,211 shares of the technology company's stock, valued at approximately $29,129,000. ACI Worldwide comprises 1.1% of North Star Asset Management Inc.'s portfolio, making the stock its 24th largest holding. North Star Asset Management Inc. owned approximately 0.57% of ACI Worldwide as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ACIW. Empowered Funds LLC purchased a new position in shares of ACI Worldwide during the 2nd quarter worth about $480,000. Public Employees Retirement System of Ohio bought a new position in ACI Worldwide during the 2nd quarter valued at about $70,000. Corient Private Wealth LP purchased a new stake in ACI Worldwide in the 2nd quarter worth about $2,571,000. Bank of America Corp DE bought a new stake in ACI Worldwide in the second quarter worth about $27,391,000. Finally, American Capital Management Inc. bought a new stake in ACI Worldwide in the second quarter worth about $926,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ACIW shares. DA Davidson set a $66.00 target price on ACI Worldwide and gave the company a "buy" rating in a research report on Friday, August 7th. Zacks Research upgraded ACI Worldwide from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 20th. Wall Street Zen lowered ACI Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings upgraded ACI Worldwide from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, ACI Worldwide has a consensus rating of "Buy" and an average price target of $66.00.

ACI Worldwide Trading Up 2.2%

Shares of ACIW opened at $54.22 on Friday. ACI Worldwide, Inc. has a 1-year low of $38.05 and a 1-year high of $61.08. The company has a 50-day moving average of $53.85 and a 200 day moving average of $46.15. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 24.87 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.58.

ACI Worldwide Company 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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