Victory Capital Management Inc. Buys 82,484 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Victory Capital Management Inc. grew its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 16.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 579,467 shares of the technology company's stock after acquiring an additional 82,484 shares during the period. Victory Capital Management Inc. owned about 0.55% of ACI Worldwide worth $31,703,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hohimer Wealth Management LLC grew its holdings in ACI Worldwide by 4.1% during the first quarter. Hohimer Wealth Management LLC now owns 4,962 shares of the technology company's stock valued at $271,000 after purchasing an additional 197 shares during the period. CWM LLC grew its stake in shares of ACI Worldwide by 22.5% during the 1st quarter. CWM LLC now owns 4,490 shares of the technology company's stock worth $246,000 after acquiring an additional 825 shares during the period. Xponance Inc. grew its stake in shares of ACI Worldwide by 9.0% during the 1st quarter. Xponance Inc. now owns 8,288 shares of the technology company's stock worth $453,000 after acquiring an additional 684 shares during the period. Kesler Norman & Wride LLC increased its holdings in ACI Worldwide by 16.1% in the 1st quarter. Kesler Norman & Wride LLC now owns 16,845 shares of the technology company's stock worth $922,000 after acquiring an additional 2,340 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in ACI Worldwide by 37.3% in the 1st 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 during the period. Hedge funds and other institutional investors own 94.74% of the company's stock.

Insiders Place Their Bets

In related news, Director Janet O. Estep sold 4,500 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $44.66, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary P. Harman sold 7,194 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $47.48, for a total transaction of $341,571.12. Following the completion of the sale, the director directly owned 34,388 shares of the company's stock, valued at $1,632,742.24. This represents a 17.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ACIW shares. Jefferies Financial Group cut their price objective on shares of ACI Worldwide from $68.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Stephens raised shares of ACI Worldwide from an "equal weight" rating to an "overweight" rating and set a $60.00 price target on the stock in a report on Thursday, July 17th. Wall Street Zen raised ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. 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 research report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ACI Worldwide presently has a consensus rating of "Buy" and an average price target of $60.00.

ACI Worldwide Price Performance

Shares of NASDAQ:ACIW traded down $1.01 during trading on Thursday, reaching $44.95. The company had a trading volume of 616,628 shares, compared to its average volume of 627,929. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $46.00 and a two-hundred day moving average of $50.33. ACI Worldwide, Inc. has a 12 month low of $41.42 and a 12 month high of $59.71. The stock has a market capitalization of $4.72 billion, a P/E ratio of 17.70 and a beta of 1.06.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last announced its quarterly earnings data 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 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 for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. Equities research analysts forecast that ACI Worldwide, Inc. will post 2 earnings per share for the current year.

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.