Pitcairn Co. Purchases New Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Pitcairn Co. acquired a new position in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,609 shares of the technology company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hood River Capital Management LLC lifted its position in ACI Worldwide by 44.9% during the 2nd quarter. Hood River Capital Management LLC now owns 2,400,340 shares of the technology company’s stock worth $95,029,000 after acquiring an additional 743,595 shares in the last quarter. Reinhart Partners LLC. boosted its stake in shares of ACI Worldwide by 0.8% in the second quarter. Reinhart Partners LLC. now owns 2,287,849 shares of the technology company’s stock valued at $90,576,000 after purchasing an additional 18,229 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in ACI Worldwide by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,389,734 shares of the technology company’s stock valued at $70,737,000 after purchasing an additional 33,408 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ACI Worldwide by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 949,944 shares of the technology company’s stock worth $37,608,000 after buying an additional 56,113 shares during the period. Finally, Fiera Capital Corp lifted its holdings in ACI Worldwide by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 896,634 shares of the technology company’s stock worth $35,498,000 after buying an additional 10,568 shares in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analyst Ratings Changes

ACIW has been the subject of several recent analyst reports. DA Davidson downgraded ACI Worldwide from a “buy” rating to a “neutral” rating and raised their target price for the company from $57.00 to $60.00 in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. Canaccord Genuity Group upped 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. StockNews.com downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Stephens cut shares of ACI Worldwide from an “overweight” rating to an “equal weight” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, ACI Worldwide currently has an average rating of “Hold” and an average target price of $49.50.

Insiders Place Their Bets

In related news, Director Adalio T. Sanchez sold 1,200 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.28, for a total transaction of $68,736.00. Following the sale, the director now owns 43,272 shares in the company, valued at $2,478,620.16. This represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

ACI Worldwide Stock Performance

ACIW stock opened at $56.66 on Thursday. The stock’s 50 day simple moving average is $52.15 and its 200 day simple moving average is $45.34. ACI Worldwide, Inc. has a 12-month low of $26.43 and a 12-month high of $59.71. The firm has a market cap of $5.94 billion, a P/E ratio of 26.89 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.

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.