State of Alaska Department of Revenue Purchases 16,507 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

State of Alaska Department of Revenue grew its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 27.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,118 shares of the technology company's stock after acquiring an additional 16,507 shares during the period. State of Alaska Department of Revenue owned 0.07% of ACI Worldwide worth $4,163,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of ACI Worldwide by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 13,863,463 shares of the technology company's stock valued at $719,652,000 after acquiring an additional 189,980 shares in the last quarter. Hood River Capital Management LLC grew its position in shares of ACI Worldwide by 3.1% during the 4th quarter. Hood River Capital Management LLC now owns 3,374,507 shares of the technology company's stock worth $175,171,000 after purchasing an additional 100,311 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ACI Worldwide by 18.4% during the fourth quarter. Geode Capital Management LLC now owns 2,962,449 shares of the technology company's stock worth $154,095,000 after purchasing an additional 459,821 shares during the period. North Reef Capital Management LP raised its position in shares of ACI Worldwide by 18.3% in the fourth quarter. North Reef Capital Management LP now owns 2,141,000 shares of the technology company's stock valued at $111,139,000 after buying an additional 331,000 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of ACI Worldwide by 8.5% in the fourth quarter. Invesco Ltd. now owns 2,013,328 shares of the technology company's stock valued at $104,512,000 after buying an additional 157,303 shares during the period. 94.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACIW has been the topic of a number of recent research reports. Jefferies Financial Group lowered their price objective 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. DA Davidson raised 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, Wall Street Zen raised shares of ACI Worldwide from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ACI Worldwide currently has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Insider Activity

In other news, CEO Thomas W. Warsop III purchased 5,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $48.57 per share, with a total value of $242,850.00. Following the completion of the purchase, the chief executive officer now owns 326,922 shares of the company's stock, valued at $15,878,601.54. This trade represents a 1.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Janet O. Estep sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $44.66, for a total value of $200,970.00. Following the completion of the transaction, the director now directly owns 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. 1.10% of the stock is owned by corporate insiders.

ACI Worldwide Price Performance

Shares of ACI Worldwide stock traded up $0.67 during trading on Tuesday, reaching $46.04. 565,768 shares of the company's stock were exchanged, compared to its average volume of 733,369. ACI Worldwide, Inc. has a 1-year low of $36.78 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. The firm's 50-day moving average price is $48.78 and its 200 day moving average price is $51.48. The company has a market cap of $4.83 billion, a P/E ratio of 18.13 and a beta of 1.08.

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

ACI Worldwide Company 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.