Victory Capital Management Inc. Boosts Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Victory Capital Management Inc. grew its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 579,467 shares of the technology company's stock after purchasing an additional 82,484 shares during the quarter. Victory Capital Management Inc. owned 0.55% of ACI Worldwide worth $31,703,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ACIW. Hohimer Wealth Management LLC raised its holdings in ACI Worldwide by 4.1% in the first quarter. Hohimer Wealth Management LLC now owns 4,962 shares of the technology company's stock valued at $271,000 after acquiring an additional 197 shares in the last quarter. CWM LLC raised its holdings in ACI Worldwide by 22.5% in the first quarter. CWM LLC now owns 4,490 shares of the technology company's stock valued at $246,000 after acquiring an additional 825 shares in the last quarter. Xponance Inc. raised its holdings in ACI Worldwide by 9.0% in the first quarter. Xponance Inc. now owns 8,288 shares of the technology company's stock valued at $453,000 after acquiring an additional 684 shares in the last quarter. Kesler Norman & Wride LLC raised its holdings in ACI Worldwide by 16.1% in the first quarter. Kesler Norman & Wride LLC now owns 16,845 shares of the technology company's stock valued at $922,000 after acquiring an additional 2,340 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in ACI Worldwide by 37.3% in the first quarter. Cerity Partners LLC now owns 12,194 shares of the technology company's stock valued at $667,000 after acquiring an additional 3,315 shares in the last quarter. Hedge funds and other institutional investors own 94.74% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ACIW shares. Jefferies Financial Group reduced their target price on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. DA Davidson raised shares of ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 target price on the stock in a report on Monday, May 12th. Stephens raised shares of 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. 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. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ACI Worldwide presently has a consensus rating of "Buy" and a consensus price target of $60.00.

Insider Activity

In other news, Director Janet O. Estep sold 4,500 shares of ACI Worldwide stock in a transaction 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 transaction, the director directly owned 77,631 shares of the company's stock, valued at $3,467,000.46. The trade was a 5.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary P. Harman sold 7,194 shares of ACI Worldwide stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $47.48, for a total transaction of $341,571.12. Following the completion of the transaction, the director directly owned 34,388 shares in the company, 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. Corporate insiders own 1.10% of the company's stock.

ACI Worldwide Stock Down 1.3%

ACIW stock traded down $0.61 during midday trading on Thursday, reaching $45.36. 191,156 shares of the company were exchanged, compared to its average volume of 719,282. 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, Inc. has a 1-year low of $41.42 and a 1-year high of $59.71. The stock's 50-day simple moving average is $46.07 and its 200 day simple moving average is $50.36. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 17.84 and a beta of 1.06.

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