DA Davidson Increases ACI Worldwide (NASDAQ:ACIW) Price Target to $42.00

ACI Worldwide (NASDAQ:ACIW) had its target price upped by DA Davidson from $36.00 to $42.00 in a report issued on Wednesday morning, Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

ACIW has been the subject of a number of other research reports. Jefferies Financial Group initiated coverage on shares of ACI Worldwide in a report on Friday, March 8th. They issued a buy rating and a $38.00 price objective for the company. TheStreet raised ACI Worldwide from a c rating to a b- rating in a report on Thursday, January 4th. Needham & Company LLC reissued a hold rating on shares of ACI Worldwide in a report on Wednesday. Canaccord Genuity Group restated a buy rating and issued a $40.00 price target on shares of ACI Worldwide in a research report on Friday, March 15th. Finally, Craig Hallum boosted their price objective on shares of ACI Worldwide from $38.00 to $40.00 and gave the company a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $40.00.

ACI Worldwide Stock Down 1.0 %

NASDAQ:ACIW opened at $35.12 on Wednesday. The stock has a 50-day simple moving average of $32.41 and a 200 day simple moving average of $29.44. ACI Worldwide has a 52-week low of $19.56 and a 52-week high of $36.37. The company has a market cap of $3.73 billion, a PE ratio of 26.21 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.36 and a current ratio of 1.37.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.17. The firm had revenue of $477.00 million for the quarter, compared to analyst estimates of $476.43 million. ACI Worldwide had a net margin of 9.88% and a return on equity of 17.31%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 EPS. On average, sell-side analysts expect that ACI Worldwide will post 1.83 EPS for the current fiscal year.

Institutional Trading of ACI Worldwide

Institutional investors have recently modified their holdings of the business. NBC Securities Inc. increased its position in shares of ACI Worldwide by 1.8% in the fourth quarter. NBC Securities Inc. now owns 23,912 shares of the technology company’s stock worth $731,000 after purchasing an additional 412 shares during the last quarter. SkyView Investment Advisors LLC increased its holdings in shares of ACI Worldwide by 3.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 11,998 shares of the technology company’s stock worth $271,000 after buying an additional 444 shares during the last quarter. Arizona State Retirement System raised its position in shares of ACI Worldwide by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 30,842 shares of the technology company’s stock valued at $696,000 after buying an additional 476 shares in the last quarter. Covestor Ltd lifted its holdings in shares of ACI Worldwide by 136.6% during the 3rd quarter. Covestor Ltd now owns 1,417 shares of the technology company’s stock worth $32,000 after acquiring an additional 818 shares during the last quarter. Finally, Strs Ohio grew its position in ACI Worldwide by 142.9% in the third quarter. Strs Ohio now owns 1,700 shares of the technology company’s stock worth $38,000 after acquiring an additional 1,000 shares in the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

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.