Weitz Investment Management Inc. Invests $18.49 Million in ACI Worldwide, Inc. $ACIW

Key Points

• Weitz Investment Management purchased 367,700 shares of ACI Worldwide worth approximately $18.49 million, making up 1.3% of its portfolio and about 0.36% of ACIW’s outstanding shares.
• Institutional ownership remains high at 94.73%, while several other investment firms recently increased their positions in ACI Worldwide.
• Analyst sentiment is generally positive: ACIW carries an average “Buy” rating and a consensus price target of $66, compared with a recent opening price of $51.86.

Weitz Investment Management Inc. purchased a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 367,700 shares of the technology company's stock, valued at approximately $18,492,000. ACI Worldwide accounts for approximately 1.3% of Weitz Investment Management Inc.'s investment portfolio, making the stock its 24th biggest holding. Weitz Investment Management Inc. owned approximately 0.36% of ACI Worldwide as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACIW. Farther Finance Advisors LLC lifted its position in ACI Worldwide by 226.8% in the 4th quarter. Farther Finance Advisors LLC now owns 536 shares of the technology company's stock worth $26,000 after buying an additional 372 shares in the last quarter. Allworth Financial LP grew its holdings in shares of ACI Worldwide by 93.5% during the 3rd quarter. Allworth Financial LP now owns 532 shares of the technology company's stock valued at $28,000 after acquiring an additional 257 shares in the last quarter. Essential Partners LLC increased its stake in shares of ACI Worldwide by 80.3% in the first quarter. Essential Partners LLC now owns 734 shares of the technology company's stock worth $30,000 after acquiring an additional 327 shares during the last quarter. State of Wyoming acquired a new position in shares of ACI Worldwide in the second quarter worth $37,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of ACI Worldwide by 122.1% during the second quarter. EverSource Wealth Advisors LLC now owns 944 shares of the technology company's stock worth $43,000 after acquiring an additional 519 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on ACIW. Zacks Research upgraded ACI Worldwide from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Wall Street Zen lowered ACI Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. DA Davidson set a $66.00 price target on ACI Worldwide and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded ACI Worldwide from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $66.00.

ACI Worldwide Stock Up 0.6%

ACIW stock opened at $51.86 on Friday. The firm has a market cap of $5.24 billion, a PE ratio of 23.79 and a beta of 0.97. ACI Worldwide, Inc. has a 1 year low of $38.05 and a 1 year high of $61.08. The company has a fifty day simple moving average of $53.18 and a 200 day simple moving average of $45.80. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52.

About ACI Worldwide

ACI Worldwide NASDAQ: ACIW is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company's platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI's modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.

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