Ritholtz Wealth Management Raises Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Ritholtz Wealth Management raised its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 64.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,611 shares of the technology company's stock after purchasing an additional 34,814 shares during the quarter. Ritholtz Wealth Management owned 0.08% of ACI Worldwide worth $4,848,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ACIW. Barclays PLC boosted its position in shares of ACI Worldwide by 11.9% during the fourth quarter. Barclays PLC now owns 253,061 shares of the technology company's stock worth $13,136,000 after buying an additional 26,888 shares during the period. Bank of America Corp DE boosted its holdings in ACI Worldwide by 267.7% during the 4th quarter. Bank of America Corp DE now owns 563,335 shares of the technology company's stock valued at $29,243,000 after acquiring an additional 410,142 shares during the period. Harbor Capital Advisors Inc. grew its position in ACI Worldwide by 5.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 144,122 shares of the technology company's stock valued at $7,885,000 after acquiring an additional 8,023 shares in the last quarter. AXA S.A. increased its stake in ACI Worldwide by 11.6% during the fourth quarter. AXA S.A. now owns 144,007 shares of the technology company's stock worth $7,475,000 after purchasing an additional 14,994 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of ACI Worldwide during the fourth quarter worth about $519,000. Institutional investors and hedge funds own 94.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ACIW shares. Wall Street Zen upgraded shares of ACI Worldwide from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Jefferies Financial Group cut their price objective 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. Finally, DA Davidson upgraded ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 target price for the company in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.00.

Insiders Place Their Bets

In other ACI Worldwide news, 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 transaction of $341,571.12. Following the transaction, the director now owns 34,388 shares of the company's stock, valued at approximately $1,632,742.24. This trade 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 hyperlink. Also, CEO Thomas W. Warsop III bought 5,000 shares of ACI Worldwide stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $48.57 per share, with a total value of $242,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 326,922 shares in the company, valued at approximately $15,878,601.54. The trade was a 1.55% increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

ACI Worldwide Stock Down 0.5%

Shares of NASDAQ:ACIW traded down $0.22 during trading hours on Wednesday, reaching $44.77. The stock had a trading volume of 264,268 shares, compared to its average volume of 737,002. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 17.63 and a beta of 1.07. The firm's 50 day moving average is $49.36 and its 200-day moving average is $51.83. ACI Worldwide, Inc. has a 1 year low of $35.85 and a 1 year high of $59.71. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.50 and a current ratio of 1.50.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.51 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $364.36 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. ACI Worldwide's revenue for the quarter was up 24.9% compared to the same quarter last year. Research analysts predict 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.