Fred Alger Management LLC Sells 19,106 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Fred Alger Management LLC trimmed its position in ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 21.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,236 shares of the technology company's stock after selling 19,106 shares during the quarter. Fred Alger Management LLC owned approximately 0.07% of ACI Worldwide worth $3,594,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Ironwood Investment Management LLC lifted its position in shares of ACI Worldwide by 0.8% in the fourth quarter. Ironwood Investment Management LLC now owns 30,151 shares of the technology company's stock worth $1,565,000 after purchasing an additional 227 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of ACI Worldwide by 3.2% in the fourth quarter. Pacer Advisors Inc. now owns 7,763 shares of the technology company's stock valued at $403,000 after purchasing an additional 238 shares during the period. Corient Private Wealth LLC lifted its position in ACI Worldwide by 5.0% during the 4th quarter. Corient Private Wealth LLC now owns 5,638 shares of the technology company's stock worth $293,000 after acquiring an additional 267 shares during the last quarter. Blue Trust Inc. lifted its position in shares of ACI Worldwide by 104.9% during the 4th quarter. Blue Trust Inc. now owns 582 shares of the technology company's stock worth $30,000 after purchasing an additional 298 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of ACI Worldwide by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,034 shares of the technology company's stock worth $573,000 after acquiring an additional 350 shares during the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ACI Worldwide

In other news, Director Charles E. Peters, Jr. sold 12,940 shares of ACI Worldwide stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $57.57, for a total transaction of $744,955.80. Following the completion of the transaction, the director now directly owns 80,842 shares in the company, valued at $4,654,073.94. This trade represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were bought at an average cost of $48.57 per share, for a total transaction of $242,850.00. Following the transaction, the chief executive officer now owns 326,922 shares of the company's stock, valued at $15,878,601.54. The trade was a 1.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

ACI Worldwide Stock Up 0.8%

Shares of ACI Worldwide stock traded up $0.40 during trading on Tuesday, reaching $49.16. The stock had a trading volume of 1,256,342 shares, compared to its average volume of 717,371. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 23.30 and a beta of 1.14. ACI Worldwide, Inc. has a 52 week low of $33.32 and a 52 week high of $59.71. The stock has a fifty day moving average price of $52.46 and a two-hundred day moving average price of $53.19. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $364.36 million. During the same period last year, the firm posted $0.10 earnings per share. The business's revenue was up 24.9% on a year-over-year basis. Sell-side analysts predict that ACI Worldwide, Inc. will post 2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, 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 research note on Monday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" 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.