ACI Worldwide (NASDAQ:ACIW) Hits New 1-Year High at $51.15

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACIW. Canaccord Genuity Group increased their price objective on ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of ACI Worldwide in a research note on Friday, August 2nd. DA Davidson lifted their price target on ACI Worldwide from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, StockNews.com cut shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.50.

ACI Worldwide Price Performance

The stock has a market capitalization of $5.32 billion, a P/E ratio of 37.66 and a beta of 1.19. 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 price of $47.55 and a 200 day moving average price of $39.82.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.24. The business had revenue of $373.48 million for the quarter, compared to analysts’ expectations of $349.95 million. ACI Worldwide had a net margin of 12.01% and a return on equity of 19.18%. On average, analysts expect that ACI Worldwide, Inc. will post 1.96 EPS for the current year.

ACI Worldwide declared that its Board of Directors has approved a share repurchase program on Thursday, June 13th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On ACI Worldwide

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

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.