ACI Worldwide, Inc. (NASDAQ:ACIW) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 52.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,961 shares of the technology company's stock after selling 31,376 shares during the quarter. Wedge Capital Management L L P NC's holdings in ACI Worldwide were worth $1,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Avenue Securities LLC bought a new position in shares of ACI Worldwide during the 1st quarter valued at about $202,000. Congress Asset Management Co. boosted its stake in ACI Worldwide by 9.5% during the first quarter. Congress Asset Management Co. now owns 1,180,839 shares of the technology company's stock valued at $64,604,000 after buying an additional 102,087 shares during the last quarter. Portside Wealth Group LLC bought a new position in shares of ACI Worldwide during the 1st quarter valued at approximately $308,000. NBC Securities Inc. grew its holdings in shares of ACI Worldwide by 92,605.6% in the first quarter. NBC Securities Inc. now owns 16,687 shares of the technology company's stock valued at $912,000 after purchasing an additional 16,669 shares in the last quarter. Finally, Rhumbline Advisers increased its position in ACI Worldwide by 0.9% in the first quarter. Rhumbline Advisers now owns 302,064 shares of the technology company's stock worth $16,526,000 after purchasing an additional 2,661 shares during the last quarter. Institutional investors own 94.74% of the company's stock.

ACI Worldwide Trading Down 0.4%

Shares of ACIW traded down $0.18 during trading hours on Thursday, reaching $46.88. 371,269 shares of the company traded hands, compared to its average volume of 736,861. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 22.22 and a beta of 1.07. ACI Worldwide, Inc. has a 12-month low of $34.96 and a 12-month high of $59.71. The stock's fifty day moving average price is $49.63 and its 200 day moving average price is $52.11. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.33 by $0.18. ACI Worldwide had a return on equity of 21.67% and a net margin of 14.04%. The company had revenue of $394.57 million for the quarter, compared to the consensus estimate of $364.36 million. During the same period last year, the business posted $0.10 EPS. ACI Worldwide's quarterly revenue was up 24.9% on a year-over-year basis. Sell-side analysts forecast that ACI Worldwide, Inc. will post 2 earnings per share for the current year.

Insider Activity at ACI Worldwide

In related news, Director Mary P. Harman sold 7,194 shares of ACI Worldwide stock in a transaction that occurred on 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 now directly owns 34,388 shares in the company, valued at $1,632,742.24. This trade represents a 17.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas W. Warsop III bought 5,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $48.57 per share, for a total transaction of $242,850.00. Following the completion of the transaction, the chief executive officer now owns 326,922 shares in the company, valued at $15,878,601.54. This trade represents a 1.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group dropped 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 note on Tuesday, May 27th. DA Davidson raised ACI Worldwide from a "neutral" rating to a "buy" rating and set a $60.00 price objective on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen raised ACI Worldwide from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

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.