ACI Worldwide (NASDAQ:ACIW) Hits New 52-Week High at $51.15

ACI Worldwide, Inc. (NASDAQ:ACIW)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $51.15 and last traded at $51.01, with a volume of 50463 shares traded. The stock had previously closed at $50.23.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ACIW. Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a research note on Friday, August 2nd. StockNews.com downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. DA Davidson increased their price objective on shares of ACI Worldwide from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Canaccord Genuity Group boosted their target price on ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, ACI Worldwide presently has an average rating of “Moderate Buy” and an average price target of $47.50.

ACI Worldwide Stock Down 0.9 %

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $5.32 billion, a P/E ratio of 37.66 and a beta of 1.19. The stock’s 50-day simple moving average is $47.55 and its 200-day simple moving average is $39.82.

ACI Worldwide (NASDAQ:ACIW) last released its earnings results on Thursday, August 1st. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.24. The company had revenue of $373.48 million during the quarter, compared to analyst estimates of $349.95 million. ACI Worldwide had a return on equity of 19.18% and a net margin of 12.01%. As a group, research analysts predict that ACI Worldwide, Inc. will post 1.96 earnings per share for the current fiscal year.

ACI Worldwide declared that its board has authorized a share buyback plan on Thursday, June 13th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Creative Planning lifted its stake in shares of ACI Worldwide by 24.2% during the 2nd quarter. Creative Planning now owns 26,006 shares of the technology company’s stock valued at $1,030,000 after buying an additional 5,067 shares in the last quarter. Algert Global LLC raised its holdings in ACI Worldwide by 811.5% during the 2nd quarter. Algert Global LLC now owns 155,507 shares of the technology company’s stock valued at $6,157,000 after acquiring an additional 138,447 shares during the period. Mackenzie Financial Corp lifted its position in shares of ACI Worldwide by 4.8% during the second quarter. Mackenzie Financial Corp now owns 62,958 shares of the technology company’s stock worth $2,493,000 after acquiring an additional 2,879 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ACI Worldwide by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 58,872 shares of the technology company’s stock worth $2,331,000 after acquiring an additional 469 shares during the period. Finally, Millennium Management LLC grew its position in shares of ACI Worldwide by 710.3% in the second quarter. Millennium Management LLC now owns 94,542 shares of the technology company’s stock valued at $3,743,000 after purchasing an additional 82,875 shares in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

About ACI Worldwide

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.