Violich Capital Management Inc. Acquires New Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Violich Capital Management Inc. bought a new stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) in the third quarter, Holdings Channel reports. The firm bought 4,825 shares of the technology company’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in ACI Worldwide by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 13,204,817 shares of the technology company’s stock worth $404,067,000 after buying an additional 1,228,384 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ACI Worldwide by 11.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,447 shares of the technology company’s stock valued at $6,690,000 after purchasing an additional 20,364 shares during the period. BNP Paribas Financial Markets grew its stake in ACI Worldwide by 8.9% during the 1st quarter. BNP Paribas Financial Markets now owns 91,747 shares of the technology company’s stock worth $3,047,000 after purchasing an additional 7,466 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in ACI Worldwide by 40.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,538 shares of the technology company’s stock worth $383,000 after purchasing an additional 3,307 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of ACI Worldwide in the 1st quarter valued at about $846,000. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ACIW shares. DA Davidson increased their price objective on shares of ACI Worldwide from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Canaccord Genuity Group boosted their price objective on shares of ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Stephens downgraded shares of ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research report on Friday. StockNews.com lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of ACI Worldwide in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, ACI Worldwide currently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

ACI Worldwide Trading Down 2.5 %

NASDAQ ACIW opened at $50.66 on Monday. The firm has a 50-day moving average price of $49.45 and a 200 day moving average price of $41.51. ACI Worldwide, Inc. has a 52-week low of $19.56 and a 52-week high of $53.29. The stock has a market capitalization of $5.30 billion, a P/E ratio of 29.98 and a beta of 1.19. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.79.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.24. The firm had revenue of $373.48 million for the quarter, compared to analysts’ expectations of $349.95 million. ACI Worldwide had a net margin of 12.01% and a return on equity of 19.18%. Equities research analysts expect that ACI Worldwide, Inc. will post 1.96 EPS for the current year.

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.