Prescott Group Capital Management L.L.C. Has $1.09 Million Stock Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Key Points

• Prescott Group Capital Management L.L.C. reduced its stake in ACI Worldwide by 33.3%, selling 10,000 shares and retaining 20,000 shares, valued at approximately $1,094,000.
• ACI Worldwide reported a strong financial performance with $0.51 earnings per share for the latest quarter, exceeding analysts' expectations and demonstrating a 24.9% increase in revenue year-over-year.
• Several analysts have recently upgraded ACI Worldwide's stock ratings, with a consensus target price of $60.00, indicating a positive outlook for the company.

Prescott Group Capital Management L.L.C. lowered its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 33.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the technology company's stock after selling 10,000 shares during the quarter. Prescott Group Capital Management L.L.C.'s holdings in ACI Worldwide were worth $1,094,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in ACI Worldwide in the 1st quarter valued at approximately $25,000. Covestor Ltd grew its holdings in shares of ACI Worldwide by 239.4% during the 4th quarter. Covestor Ltd now owns 594 shares of the technology company's stock worth $31,000 after purchasing an additional 419 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of ACI Worldwide during the 1st quarter worth approximately $39,000. Versant Capital Management Inc grew its holdings in shares of ACI Worldwide by 121.3% during the 1st quarter. Versant Capital Management Inc now owns 885 shares of the technology company's stock worth $48,000 after purchasing an additional 485 shares in the last quarter. Finally, Archer Investment Corp acquired a new stake in shares of ACI Worldwide during the 1st quarter worth approximately $159,000. Institutional investors and hedge funds own 94.74% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in 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. Stephens raised ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 price objective on the stock in a report on Thursday, July 17th. Jefferies Financial Group decreased their price target on ACI Worldwide from $68.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Finally, Wall Street Zen upgraded ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ACI Worldwide currently has a consensus rating of "Buy" and an average target price of $60.00.

ACI Worldwide Trading Down 0.7%

Shares of ACI Worldwide stock traded down $0.32 during trading hours on Tuesday, hitting $44.21. The company's stock had a trading volume of 418,318 shares, compared to its average volume of 723,024. ACI Worldwide, Inc. has a 12 month low of $41.79 and a 12 month high of $59.71. The stock has a 50 day moving average of $45.75 and a 200 day moving average of $50.16. The company has a market capitalization of $4.64 billion, a PE ratio of 17.40 and a beta of 1.06. 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 (NASDAQ:ACIW - Get Free Report) last announced its quarterly 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. The company had revenue of $394.57 million during the quarter, compared to the consensus estimate of $364.36 million. ACI Worldwide had a return on equity of 20.94% and a net margin of 16.12%. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. Analysts predict that ACI Worldwide, Inc. will post 2 earnings per share for the current year.

Insider Activity at ACI Worldwide

In related 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 transaction of $200,970.00. Following the completion of the transaction, the director directly owned 77,631 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary P. Harman sold 7,194 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $47.48, for a total value of $341,571.12. Following the transaction, the director directly owned 34,388 shares of the company's stock, valued at $1,632,742.24. This trade represents a 17.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

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.