Principal Financial Group Inc. Has $30.53 Million Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Principal Financial Group Inc. increased its position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558,040 shares of the technology company's stock after purchasing an additional 12,534 shares during the quarter. Principal Financial Group Inc. owned 0.53% of ACI Worldwide worth $30,530,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in ACI Worldwide in the first quarter valued at $25,000. Covestor Ltd increased 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 valued at $31,000 after purchasing an additional 419 shares during the period. Versant Capital Management Inc increased 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 valued at $48,000 after purchasing an additional 485 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of ACI Worldwide by 278.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,899 shares of the technology company's stock valued at $99,000 after purchasing an additional 1,397 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of ACI Worldwide by 24.5% during the first quarter. GAMMA Investing LLC now owns 3,266 shares of the technology company's stock valued at $179,000 after purchasing an additional 642 shares during the period. 94.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Janet O. Estep sold 4,500 shares of ACI Worldwide stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $44.66, for a total value of $200,970.00. Following the transaction, the director owned 77,631 shares of the company's stock, valued at approximately $3,467,000.46. This trade represents a 5.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary P. Harman sold 7,194 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $47.48, for a total value of $341,571.12. Following the sale, the director owned 34,388 shares of the company's stock, valued at $1,632,742.24. The trade was a 17.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ACIW has been the topic of a number of research analyst reports. DA Davidson raised ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 price target on the stock in a report on Monday, May 12th. Wall Street Zen raised ACI Worldwide from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group lowered their target price on ACI Worldwide from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

ACI Worldwide Price Performance

NASDAQ:ACIW traded down $1.21 during mid-day trading on Friday, reaching $43.90. 630,092 shares of the stock were exchanged, compared to its average volume of 728,860. The business has a fifty day moving average price of $46.92 and a 200 day moving average price of $50.74. The firm has a market capitalization of $4.61 billion, a PE ratio of 17.28 and a beta of 1.06. ACI Worldwide, Inc. has a 1-year low of $39.93 and a 1-year high of $59.71. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55.

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