Amalgamated Bank Has $1.27 Million Stock Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Amalgamated Bank lessened its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,163 shares of the technology company’s stock after selling 2,105 shares during the quarter. Amalgamated Bank’s holdings in ACI Worldwide were worth $1,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp raised its position in ACI Worldwide by 123.3% during the second quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock worth $45,000 after acquiring an additional 624 shares in the last quarter. GAMMA Investing LLC lifted its stake in ACI Worldwide by 49.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company’s stock valued at $52,000 after purchasing an additional 431 shares during the last quarter. CWM LLC lifted its stake in ACI Worldwide by 638.5% in the 2nd quarter. CWM LLC now owns 1,322 shares of the technology company’s stock valued at $52,000 after purchasing an additional 1,143 shares during the last quarter. Innealta Capital LLC bought a new position in ACI Worldwide during the second quarter worth about $154,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in ACI Worldwide during the second quarter worth approximately $166,000. 94.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ACIW has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ACI Worldwide in a research report on Friday, August 2nd. DA Davidson lifted 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. StockNews.com lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Canaccord Genuity Group lifted their target price on shares of ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

ACI Worldwide Trading Up 0.6 %

Shares of ACI Worldwide stock opened at $49.47 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50-day moving average of $47.04 and a 200-day moving average of $39.32. ACI Worldwide, Inc. has a 52-week low of $19.56 and a 52-week high of $51.00. The stock has a market cap of $5.18 billion, a PE ratio of 36.92 and a beta of 1.19.

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

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

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.