Illinois Municipal Retirement Fund Buys Shares of 63,018 ACI Worldwide, Inc. (NASDAQ:ACIW)

Illinois Municipal Retirement Fund purchased a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 63,018 shares of the technology company's stock, valued at approximately $1,928,000. Illinois Municipal Retirement Fund owned approximately 0.06% of ACI Worldwide at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd raised its stake in ACI Worldwide by 136.6% during the 3rd quarter. Covestor Ltd now owns 1,417 shares of the technology company's stock worth $32,000 after acquiring an additional 818 shares in the last quarter. Strs Ohio grew its position in ACI Worldwide by 142.9% during the 3rd quarter. Strs Ohio now owns 1,700 shares of the technology company's stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. SkyView Investment Advisors LLC grew its position in ACI Worldwide by 3.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 11,998 shares of the technology company's stock worth $271,000 after purchasing an additional 444 shares during the last quarter. Assetmark Inc. grew its position in ACI Worldwide by 18.2% during the 3rd quarter. Assetmark Inc. now owns 12,238 shares of the technology company's stock worth $276,000 after purchasing an additional 1,885 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in ACI Worldwide by 87.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 13,455 shares of the technology company's stock worth $304,000 after purchasing an additional 6,264 shares during the last quarter. 94.74% of the stock is currently owned by institutional investors and hedge funds.

ACI Worldwide Stock Performance

Shares of NASDAQ:ACIW traded up $0.53 during midday trading on Friday, hitting $33.30. The stock had a trading volume of 387,500 shares, compared to its average volume of 576,411. The company has a market capitalization of $3.54 billion, a PE ratio of 30.00 and a beta of 1.24. The stock has a 50 day moving average price of $31.98 and a two-hundred day moving average price of $28.83. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.73. ACI Worldwide, Inc. has a 1 year low of $19.56 and a 1 year high of $33.83.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last issued its earnings results on Thursday, February 29th. The technology company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.17. The business had revenue of $477.00 million for the quarter, compared to the consensus estimate of $476.43 million. ACI Worldwide had a net margin of 8.37% and a return on equity of 16.30%. The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. As a group, equities analysts predict that ACI Worldwide, Inc. will post 1.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACIW has been the topic of several research reports. TheStreet raised shares of ACI Worldwide from a "c" rating to a "b-" rating in a research report on Thursday, January 4th. Jefferies Financial Group initiated coverage on shares of ACI Worldwide in a research report on Friday, March 8th. They set a "buy" rating and a $38.00 price objective on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $40.00 price objective on shares of ACI Worldwide in a research report on Friday, March 15th. Finally, DA Davidson reissued a "buy" rating and set a $39.00 price objective on shares of ACI Worldwide in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

ACI Worldwide Company 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.