ACI Worldwide, Inc. (NASDAQ:ACIW) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 7.4% during the third quarter, Holdings Channel reports. The fund owned 524,613 shares of the technology company’s stock after selling 41,676 shares during the quarter. Principal Financial Group Inc.’s holdings in ACI Worldwide were worth $26,703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACIW. Farther Finance Advisors LLC boosted its stake in shares of ACI Worldwide by 177.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock worth $26,000 after purchasing an additional 321 shares during the last quarter. Fifth Third Bancorp raised its position in shares of ACI Worldwide by 123.3% in the second quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock valued at $45,000 after buying an additional 624 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of ACI Worldwide by 62.0% during the third quarter. GAMMA Investing LLC now owns 2,116 shares of the technology company’s stock valued at $108,000 after buying an additional 810 shares during the period. nVerses Capital LLC purchased a new stake in ACI Worldwide in the 3rd quarter worth approximately $112,000. Finally, USA Financial Formulas purchased a new stake in ACI Worldwide in the 3rd quarter worth approximately $114,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

ACI Worldwide Price Performance

ACIW stock opened at $52.89 on Wednesday. The company has a market cap of $5.55 billion, a PE ratio of 25.07 and a beta of 1.19. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $53.75 and a two-hundred day moving average price of $48.00. ACI Worldwide, Inc. has a 12-month low of $28.79 and a 12-month high of $59.71.

Insider Activity

In other news, CTO Abraham Kuruvilla sold 5,400 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $55.71, for a total value of $300,834.00. Following the completion of the sale, the chief technology officer now owns 81,107 shares of the company’s stock, valued at $4,518,470.97. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adalio T. Sanchez sold 1,200 shares of ACI Worldwide stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $57.28, for a total transaction of $68,736.00. Following the transaction, the director now owns 43,272 shares in the company, valued at $2,478,620.16. The trade was a 2.70 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stephens cut ACI Worldwide from an “overweight” rating to an “equal weight” rating in a report on Friday, October 18th. DA Davidson downgraded shares of ACI Worldwide from a “buy” rating to a “neutral” rating and upped their price objective for the company from $57.00 to $60.00 in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, ACI Worldwide currently has an average rating of “Hold” and an average price target of $49.50.

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.