Public Sector Pension Investment Board Increases Stock Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Key Points

• The Public Sector Pension Investment Board increased its stake in ACI Worldwide by 43.5%, acquiring an additional 113,738 shares to reach a total of 375,084 shares valued at approximately $20.5 million.
• Recent insider transactions included sales by Directors Janet O. Estep and Mary P. Harman, who sold 4,500 and 7,194 shares respectively, indicating a decrease in their holdings.
• ACI Worldwide reported earnings per share of $0.35 for the last quarter, surpassing analyst expectations, and its quarterly revenue increased by 7.4% year-over-year.

Public Sector Pension Investment Board grew its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 43.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 375,084 shares of the technology company's stock after acquiring an additional 113,738 shares during the period. Public Sector Pension Investment Board owned about 0.36% of ACI Worldwide worth $20,521,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of ACI Worldwide in the 1st quarter valued at $25,000. N.E.W. Advisory Services LLC acquired a new position in ACI Worldwide during the first quarter worth $25,000. Covestor Ltd raised its position in 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 acquiring an additional 419 shares during the period. Wayfinding Financial LLC acquired a new position in ACI Worldwide during the first quarter worth $39,000. Finally, Cheviot Value Management LLC acquired a new position in ACI Worldwide during the first quarter worth $44,000. 94.74% of the stock is owned by hedge funds and other institutional investors.

ACI Worldwide Price Performance

Shares of NASDAQ ACIW traded down $0.05 during mid-day trading on Friday, reaching $46.56. The company's stock had a trading volume of 763,641 shares, compared to its average volume of 934,760. The stock has a 50-day moving average of $45.04 and a two-hundred day moving average of $49.31. The stock has a market capitalization of $4.80 billion, a P/E ratio of 19.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.48 and a current ratio of 1.48. ACI Worldwide, Inc. has a 1-year low of $40.45 and a 1-year high of $59.71.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The business had revenue of $401.26 million during the quarter, compared to analysts' expectations of $380.45 million. ACI Worldwide had a net margin of 14.76% and a return on equity of 19.09%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. On average, equities research analysts anticipate that ACI Worldwide, Inc. will post 2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Wall Street Zen cut shares of ACI Worldwide from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. DA Davidson upgraded shares of ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 price objective for the company in a research report on Monday, May 12th. Finally, Stephens upgraded shares of ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 price objective for the company in a research report on Thursday, July 17th.

Insider Transactions at ACI Worldwide

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

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.